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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, 13 October 22
OPEC DOWNGRADES CRUDE OIL DEMAND, AS WORLD ECONOMY ENTERS SLOWDOWN
Crude Oil Price Movements
The OPEC Reference Basket (ORB) declined m-o-m by $6.58 in September, or 6.5%, to average $95.32/b. Pressure from equ ...
Wednesday, 12 October 22
MARKET INSIGHT - INTERMODAL
Sale and Purchase activity during the first three quarters of 2022 has been remarkable.
Focusing only on Tankers and Bulkers, such v ...
Monday, 10 October 22
ENERGY TRANSITION BOOSTS GLOBAL LONG-TERM DEMAND FOR METALS - FITCH RATINGS
The energy transition will significantly increase demand for metals used in manufacturing of electric vehicles (EVs) and renewable power generation ...
Monday, 10 October 22
GLOBAL CEOS EXPECT IMPENDING RECESSION TO BE 'SHORT AND SHARP,' POLL SHOWS - CNBC
Global CEOs are anticipating a recession in the next 12 months, according to a new survey by professional services firm KPMG, which said more than ...
Thursday, 06 October 22
AUSTRALIA’S RESOURCES REVENUE TO HIT RECORD AMID UKRAINE CONFLICT - REUTERS
Australian resources and energy export earnings are forecast to jump 7% to a record A$450 billion ($290 billion) this fiscal year, bolstered by soa ...
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- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Parliament of New Zealand
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Marubeni Corporation - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
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