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Tuesday, 20 March 18
SHIPPING MARKET ANALYSIS - GEORGE LAZARIDIS
 It has been a chilling start to the week for the global economy, with the vast majority of stock exchanges noting a fair drop, after a series of sell offs in the technology sector.
According to George Lazaridis, Head of Research & Valuations of Allied Shipping, at the face of it, it may well sound as if this is something restricted to an industry which is disconnected in its most part from the shipping industry. However, in part these tremors being noted in the form of price drops in equities are tied in part to the overall friction being seen in global trade. It has been just over two weeks since US President Donald Trump announced import tariffs on steel and aluminum, and the geopolitical aftershocks are still being felt. The period just after the announcement seems to be mainly characterized by a number of countries, including but not limited to Australia, the European Union and Japan, pushing to win exemptions from these newly announced tariffs. Yet, things seem to be taking a darker tone now, with a number of these countries now vowing to act through reprisal levies and tariffs on US imports.
George Lazaridis further noted that, as an overall read-through, the main note that most of us in shipping have taken is that these current tariffs have a limited direct effect on shipping markets. China, which is the leading producer of both these commodities has a minute share in the overall imports entering the US, despite the fact that the US President has focused on China in his usual populist rhetoric with regards to trade. China’s exports of steel and aluminum to the US amount to only just 0.03% of its GDP, while it only makes up around 4% of total steel imports into the US. The biggest threat has been to the US market’s main suppliers, which are the European Union, Canada, S. Korea, Mexico, Brazil and Japan, with Canada and Mexico having for the moment escaped the current levies as part of the ongoing negotiations with regards to the NAFTA trade agreement.
George Lazaridis Allied noted that, the majority of the rest seem to be taking the option of retaliatory levies quite seriously, while despite China being relatively unaffected for the time being, they have also joined in the general discussion proactively, possibly taking this opportunity to proclaim themselves as defenders of free trade.
The risk of a wider trade war sparking off does lay in the realm of possibility right now, yet even if things were to escalate to such a level, the negative effects on shipping would most likely come in the form of gradual waves. Under such a scenario we would likely see most retaliatory tariffs and levies being placed on finished final goods, possibly causing a disturbance on the containership market first and limited to mainly this sector in the initial phase. It would take a while before we would see a gradual slump emerge on the demand for raw materials, as the overall slump in global demand for finished products would slowly push purchasing managers to cut back their requirements.
This all sounds like a dire scenario indeed and most would be in angst as to the actual probability of such a series of events pulling through, especially given that we have only just started to see a favourable environment emerge in terms of global trade. The general thought and hope for the time being is that to some degree the US President will back down having been brought to his senses in a similar fashion to how back in the early 2000’s George W Bush eventually backed down on his protectionist steel-tariff plan. Lets hope things aren’t taken too far too quickly and we miss the point of no return.
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Tuesday, 13 December 22
AUSTRALIA TO CAP PRICES OF COAL, GAS TO DRIVE DOWN ENERGY BILLS - REUTERS
Australia will cap coal and gas prices for a year in a bid to shave utility bills for households and businesses hit by soaring costs because of the ...
Tuesday, 13 December 22
YANCOAL AUSTRALIA TO PREPAY $459 MLN DEBT AS RECORD COAL PRICES BOOST CASHFLOWS - REUTERS
Coal miner Yancoal Australia Ltd. said on Friday it intended to prepay $459 million of its debt on or around Dec. 16, as elevated coal prices were ...
Tuesday, 13 December 22
WHY COAL LEADS THE RISE IN COMMODITIES THIS YEAR - MARKETWATCH
This year marked a resurgence for coal, often known — and loathed — by environmentalists as the dirtiest energy source, with prices mor ...
Thursday, 08 December 22
BIMCO TO REVISE WAR RISK CLAUSES
Work to revise the BIMCO War Cancellation Clause 2004, the BIMCO War Risks Clause for Time Chartering 2013 (CONWARTIME 2013) and the BIMCO War Risk ...
Thursday, 08 December 22
COAL ROYALTY PAYMENTS BOOST AUSTRALIAN STATE'S BUDGET FORECAST - REUTERS
Australia’s Queensland state on Wednesday forecast a record surplus for the current financial year, largely driven by higher royalty payments ...
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- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Planning Commission, India
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
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