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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, 26 July 22
CAP RUSSIA'S OIL PRICE NOW - PROJECT SYNDICATE
Though the price of oil has declined in recent weeks, it is still through the roof, filtering through to gasoline prices, and causing economic and ...
Tuesday, 26 July 22
WILL SOUTH AMERICA’S WINTER DEMAND DRAW LNG CARGOES AWAY FROM EUROPE? - ICIS
South America is now in the middle of its winter demand season. Last year the region increased its share of global LNG imports in winter, with Braz ...
Monday, 25 July 22
GLOBAL 2021 COAL-FIRED ELECTRICITY GENERATION SURGES TO RECORD HIGH - REUTERS
By contrast, mine output was still fractionally below the record set between 2012 and 2014 because older and less efficient coal generators have be ...
Saturday, 23 July 22
THE EU HAS BEEN REDUCING IMPORTS OF RUSSIAN REFINED OIL PRODUCTS SINCE MARCH - BANCHERO COSTA
The European Union could now ban the import and transit of fuel oil from Russia around six months ahead of the planned deadline, an EU official and ...
Saturday, 23 July 22
INDONESIA CONSIDERING SCRAPPING DOMESTIC SALES RULE FOR PALM OIL EXPORTS - REUTERS
Indonesia is considering removing a domestic sales requirement for palm oil exports because high inventories of the vegetable oil have been holding ...
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- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- PTC India Limited - India
- Parliament of New Zealand
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Planning Commission, India
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
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