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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, 04 November 22
CHINA EXPANDS COAL TERM CONTRACTS TO ALL MINES TO STABILIZE MARKET - REUTERS
China has expanded long-term thermal coal supply contracts for 2023 to all coal mines and asked power utilities to source more of their demand thro ...
Thursday, 03 November 22
HANDYSIZE VALUES MOVING UP IN OCTOBER, WHILE LNG VALUES SKYROCKET - VESSELSVALUE
Handysize values have increased this month across most ages, following a period of decline. Values for generic 10 year old Handysizes have moved up ...
Thursday, 03 November 22
EUROPEAN GAS SUPPLY SURPLUS, NOVEMBER HBA DOWN TO US$ 308.2 PER TON - ESDM
European gas supply conditions have a major influence in determining fluctuations in the Reference Coal Price (HBA). The November 2022 HBA recorded ...
Wednesday, 02 November 22
MARKET INSIGHT - INTERMODAL
Only five weeks before western sanctions’ full effect, uncertainty over energy has markets and governments on the edge. What was initially th ...
Tuesday, 01 November 22
CHINA COAL TRADE DISRUPTED BY COVID OUTBREAKS AS WINTER LOOMS - REUTERS
China’s strict COVID-19 policy is constraining coal supplies and pushing up prices, industry officials and traders say, just weeks before the ...
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- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- The University of Queensland
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
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