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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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Friday, 18 November 22
REALITIES OF LOI LIABILITIES - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
The cargo misdelivery claim in Trafigura Maritime Logistics Pte Ltd v. Clearlake Shipping Pte Ltd (Miracle Hope) [2022] E ...
Tuesday, 15 November 22
CHINA SEES RISING COAL STORAGE AMID SUPPLY PUSH - XINHUA
Coal stockpiles at China’s power plants have seen considerable increases, ensuring energy supply for the winter, the country’s energy r ...
Tuesday, 15 November 22
SEABORNE THERMAL COAL PRICES START TO EASE, BUT PROCESS IS UNEVEN - REUTERS
Prices for seaborne thermal coal have started to drop as fears of a winter energy crunch ease, but the rate of decline has varied across the differ ...
Thursday, 10 November 22
INDIA: THERMAL PLANTS HAVE ADEQUATE COAL STOCKS AT 25.6 MILLION TONNES, SAYS GOVT - IANS
The coal stock with domestic dry fuel-based power plants, as on October 31, was 25.6 million tonnes, the government said, adding that the availabil ...
Tuesday, 08 November 22
OUTLOOK ON CHINA’S WEAKENED BASIC MATERIALS SECTOR CLOUDED BY POLICY SWINGS - FITCH RATINGS
Fitch Ratings expects basic materials demand in China to improve qoq in 4Q22, driven by seasonally higher construction activity, solid infrastructu ...
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- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Australian Coal Association
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- MS Steel International - UAE
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Tamil Nadu electricity Board
- The University of Queensland
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Planning Commission, India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- White Energy Company Limited
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
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