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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, 20 September 22
CHINA COAL OUTPUT UP 8.1 PCT IN AUGUST - XINHUA
China’s raw coal output posted stable expansion in August, official data showed.
The country produced 370 million tonnes of ra ...
Monday, 19 September 22
BUMA AUSTRALIA AWARDED A$400 MILLION CONTRACT EXTENSION BY BMA FOR GOONYELLA PROJECT
Press Release – PT Delta Dunia Makmur Tbk. (the "Company") announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA ...
Saturday, 17 September 22
CHINA WARNS COAL COMPANIES AGAINST DUAL CONTRACTS, KEEP PRICES STABLE - REUTERS
China’s state economic planner warned coal companies operating at ports in the Bohai Bay region to comply with their long-term contracts to k ...
Saturday, 17 September 22
IS A GLOBAL RECESSION IMMINENT? - WORLD BANK
Since the beginning of the year, a rapid deterioration of growth prospects coupled with rising inflation and tightening financing conditions, has i ...
Saturday, 17 September 22
FITCH RATINGS REVISES GLOBAL METALS & MINING PRICE ASSUMPTIONS
Fitch Ratings has revised its metals and mining price assumptions reflecting evolving economic growth expectations and demand and supply dynamics.
...
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- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Planning Commission, India
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Parliament of New Zealand
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- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Thai Mozambique Logistica
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
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