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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, 29 November 22
SEABORNE COAL FLOWS IN 2022 - SIGNAL
This year is crucial for the energy mix in European countries, as the EU has imposed new sanctions on Russia. It is important to emphasize that the ...
Friday, 25 November 22
APAC THERMAL COAL PRICES CORRECT FROM RECORD HIGH - FITCH RATINGS
Prices of Newcastle 6,000kcal/kg coal have corrected following falling European gas and coal prices, and more supply from Australia could help miti ...
Thursday, 24 November 22
VIETNAM BOOSTS COAL USE PLAN FOR 2030 AS G7 CLIMATE OFFER STALLS - REUTERS
Vietnam has increased its coal power target for 2030 under a revised draft energy plan, government documents seen by Reuters show, while renewables ...
Tuesday, 22 November 22
THE GENCON 2022 CHARTERPARTY - GARD
KNOWLEDGE TO ELEVATE
BIMCO has published a revamped version of the popular GENCON charterparty. Our author, Helena Biggs, was a member of the ...
Tuesday, 22 November 22
INDIA POWER BINGES ON COAL, OUTPACES ASIA - REUTERS
India’s coal-fired power output has increased much faster than any other country in the Asia Pacific since Russia’s invasion of Ukraine ...
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- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
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