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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, 23 September 22
CHINA DIGS DEEP TO RAISE COAL OUTPUT TO RECORD HIGH - REUTERS
China’s coal production has surged this year as the government seeks to improve energy security by reducing dependence on imports and amassin ...
Friday, 23 September 22
EUROPEAN STEEL BUYERS SEEK DIRECTION IN VOLATILE MARKET - MEPS INTERNATIONAL
Demand for steel is slow to recover, after the summer break. Mill production costs continue to increase. Steel purchasers are uncertain about the f ...
Friday, 23 September 22
BUOYANT COAL INDUSTRY SEEKS WAYS TO STAY IN THE LONG-TERM ENERGY MIX - REUTERS
There’s no doubt that the global coal industry has been a major beneficiary of Russia’s invasion of Ukraine and the subsequent energy c ...
Friday, 23 September 22
MARKET INSIGHT - INTERMODAL
In view of the forthcoming winter, Europe is trying to escape from its energy (oil & gas) dependency from Russia to ensure energy abundance eve ...
Tuesday, 20 September 22
CHINA'S DAILY COAL OUTPUT HITS 3-MONTH LOW IN AUGUST ON RAINS, COVID CURBS - REUTERS
China’s daily coal output in August slipped to a three-month low as some mines in its biggest coal mining regions reduced operations or even ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Australian Coal Association
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- PTC India Limited - India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
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