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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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Wednesday, 10 August 22
THE FUTURE OF COAL: EIGHT KEY THEMES FROM THE GLOBAL COAL FORUM - WOOD MACKENZIE
Coal investors face a multi-layered and unavoidable challenge: markets distorted by war, trade constraints and the existential threat of the energy ...
Saturday, 06 August 22
SUMITOMO Q1 PROFIT RISES 45% ON STRONGER PRICES OF COAL, NICKEL - REUTERS
Japanese trading house Sumitomo Corp 8053.T said on Wednesday its net profit for the April-June quarter rose 45% to a record thanks to higher price ...
Saturday, 06 August 22
GERMANY'S ENERGY U-TURN: COAL INSTEAD OF GAS - DEUTSCHE WELLE
Berlin has realized it will never again import as much energy from Russia as before the Ukraine war. So the challenge is to wean Germany off its de ...
Saturday, 30 July 22
NUANCES OF FORCE MAJEURE CLAUSE - BALTIC EXCHANGE
Knowledge to Elevate
In NKD Maritime Limited v. Bart Maritime (No 2) Inc (Shagang Giant) [2022] EWHC 1615 (Comm), Bart Maritime (No 2) Inc (th ...
Saturday, 30 July 22
AEMO URGES QUICKER SHIFT TO RENEWABLES AMID COAL FAILURES AND SOARING FOSSIL FUEL COSTS
The Australian Energy Market Operator has called for an accelerated shift to wind and solar, backed up by batteries and other storage, as a devasta ...
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- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- MS Steel International - UAE
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Australian Coal Association
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
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