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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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Thursday, 07 July 22
COAL INDIA'S PRODUCTION SETS RECORD INCREASE OF 29% YOY AT 36 MT IN Q1FY23 - IIFL SECURITIES
Coal India Limited (CIL) has ended April-June quarter FY’23 capping a historic high of 29% yoy output growth, compared to same quarter FY&rsq ...
Wednesday, 06 July 22
MARKET INSIGHT - INTERMODAL
Following the 3rd Decarbonizing Shipping Forum, held in Hamburg on June 2022, there has been a meaningful resurgence of discussions within the ship ...
Tuesday, 05 July 22
WHY ARE VLSFO PRICES SO HIGH, ESPECIALLY IN SINGAPORE? - STEVE CHRISTY, INTEGR8 FUELS
Tightness in products still trumps talks of recession
Last month we wrote about the fears of recession versus the tightness in product markets ...
Tuesday, 05 July 22
ADANI ENTERPRISES LOWEST BIDDER IN COAL INDIA'S IMPORT TENDER: REPORT - BUSINESS STANDARD
Coal India Ltd floated its first import tender on behalf of power companies, where Adani Enterprises Ltd came out to be the lowest bidder, a report ...
Tuesday, 05 July 22
CHINA POLICY KEY FOR IRON ORE OUTLOOK - ING
China’s covid lockdowns and recessionary risks hit iron ore
Iron ore prices have fallen significantly from their year-to-date high of US$ ...
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- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Latin American Coal - Colombia
- London Commodity Brokers - England
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
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