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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, 03 October 17
ALLIED MARKET ANALYSIS
It seems as though the future of the oil trade was once again put into the spotlight, as the Asia Pacific Petroleum Conference took place last week ...
Friday, 29 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE FIFTH WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.7 million short ...
Thursday, 28 September 17
SUPRAMAX: S.CHINA TRIP TO INDIA HAS BEEN FIXED AT AROUND US$ 11000 - FEARNLEYS
Supramax
The hot market seen the last weeks in the Pacific has softened as the Golden week holiday in China approaches and the October shipments ...
Thursday, 28 September 17
THE 'UNREASONABLE' COST OF CASUALTY REPAIRS: ASSOCIATION OF AVERAGE ADJUSTERS CHAIRMAN DETAILS CLAIMS DILEMMAS
KNOWLEDGE TO ELEVATE
The ‘unreasonable’ cost of casualty repairs: Association of Average Adjusters chairman details claims dilemma ...
Thursday, 28 September 17
CHINESE GOVERNMENT TO CANCEL DOMESTIC IRON ORE MINING RIGHTS - JEFFREY LANDSBERG
It has been reported that China will cancel roughly one third of its iron ore mining licenses, says Commodore Research & Consultancy in its lat ...
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Showing 1926 to 1930 news of total 6871 |
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- Merrill Lynch Commodities Europe
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- White Energy Company Limited
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- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
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- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
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- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
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- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
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- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
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- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
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- Ministry of Mines - Canada
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- Coalindo Energy - Indonesia
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- Australian Coal Association
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- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
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- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Planning Commission, India
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- Indonesian Coal Mining Association
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