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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, 23 August 22
SHIPPING INDUSTRY TO REMOVE THE INDIAN OCEAN HIGH RISK AREA - BIMCO
After more than a decade of effective threat-reducing counter-piracy operations the shipping industry has removed the ‘Indian Ocean High Risk ...
Tuesday, 23 August 22
SHIPPING: GLOBAL TAX REFORM - WATSON FARLEY & WILLIAMS
OECD rules designed to implement a global minimum corporate tax rate for very large multinational groups have now been published and are expected t ...
Tuesday, 23 August 22
PARTIES CONCLUDE JOINT R&D AGREEMENT FOR WORLD’S FIRST AMMONIA FLOATING STORAGE AND REGASIFICATION BARGE CONTRIBUTING TO PROMOTING THE EARLY INTRODUCTION OF AMMONIA FUEL - NYK
NYK Line, Nihon Shipyard Co., Ltd. (NSY), ClassNK, and IHI Corporation (IHI) signed a joint research and development agreement for the commercializ ...
Monday, 22 August 22
INDONESIAN GOVERNMENT IMPOSED ON NEW PROGRESSIVE ROYALTIES FOR COAL
Indonesian President Joko Widodo has signed a Government Regulation (Number 26 of 2022) on 15 August 2022 related to the progressive royalty rates ...
Monday, 22 August 22
CHINA'S JULY RUSSIAN COAL IMPORTS HIT 5-YR HIGH AS WEST SHUNS MOSCOW - REUTERS
China’s coal imports from Russia jumped 14% in July from a year earlier to their highest in at least five years, as China bought discounted c ...
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- Planning Commission, India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
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- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
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- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Bhatia International Limited - India
- PTC India Limited - India
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- The University of Queensland
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
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- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
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- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
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- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
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- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
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- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
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- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
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- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
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