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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, 13 July 22
MARKET INSIGHT - INTERMODAL
Taking the previous market insight a step further, market sentiment remains bullish regarding the overall ROI of scrubbers, facing tailwinds from a ...
Friday, 08 July 22
AUSTRALIAN COAL PRICE BREAKS AGAIN LEVEL US$ 400/TON!, UP AROUND 4% - CNBC INDONESIA
Coal prices shot up again and crossed the level of US$ 400 per ton. On Thursday (7/7/2022) trading, the selling price of August contract closed at ...
Friday, 08 July 22
INDONESIA MULLS MORE FREQUENT SETTING OF CRUDE PALM OIL REFERENCE PRICE - REUTERS
Indonesia is considering setting its crude palm oil (CPO) export reference price every two weeks instead of monthly, a senior trade ministry offici ...
Friday, 08 July 22
BUNKER PRICES EXPECTED TO RECOVER LOST GROUND NEXT WEEK - SERGEY IVANOV, MABUX
Over the Week 27, the world bunker indices showed a sharp decline, primarily due to the fall in oil prices on July 05. The 380 HSFO index fell by 5 ...
Thursday, 07 July 22
NTPC MINES 61% MORE COAL AT 4.22 MN METRIC TONNES IN APRIL-JUNE: PTI
State-owned power giant NTPC on Tuesday said that its coal output grew by 61 per cent to Rs 42.40 lakh metric tonnes in April-June quarter from 26. ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
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- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Australian Coal Association
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
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- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
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- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
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- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
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- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- White Energy Company Limited
- Minerals Council of Australia
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- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
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- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
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- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
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- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
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- Australian Commodity Traders Exchange
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- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
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- Formosa Plastics Group - Taiwan
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- Energy Development Corp, Philippines
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- London Commodity Brokers - England
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