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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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Thursday, 12 April 18
ALWAYS ACCESSIBLE
KNOWLEDGE TO ELEVATE
On 26 March 2018 Mr Justice Knowles determined that the berth warranty ‘always accessible’ must mean the vess ...
Wednesday, 11 April 18
CHINA UTILITIES PLAN NEW COAL IMPORT PRICE INDEX TO CURB VOLATILITY - REUTERS
China’s major utilities are preparing to launch their own coal price index for imports, an official at China Huaneng Group said, in a move th ...
Wednesday, 11 April 18
US-CHINA TARIFF THREATS RAISE GLOBAL TRADE RISKS - FITCH
Escalating tariff proposals by the U.S. and Chinese governments are increasing the risks of a full-blown trade war, says Fitch Ratings. The most li ...
Tuesday, 10 April 18
BUMA GRANTED ADDITIONAL LOAN FACILITY FROM BTMU TO SUPPORT GROWTH
Press Release: PT Delta Dunia Makmur Tbk. is pleased to announce that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), signed an a ...
Monday, 09 April 18
APRIL INDONESIAN COAL PRICE REFERENCE DROPS TO LOWEST IN 2018
COALspot.com: According to latest ministerial decree, the Indonesian Coal Price Reference (HBA) decline 6.98 per cent in April 2018 compared to Mar ...
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- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Heidelberg Cement - Germany
- The University of Queensland
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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