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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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Saturday, 11 June 22
AIMTEK INTERNATIONAL CONFERENCE AND AWARDS
Press Release: The prestigious AIMTEK International Conference and Awards concluded successfully on June 7th, 2022 at Radisson Blu, Yas Island Abu ...
Thursday, 26 May 22
MARKET INSIGHT - INTERMODAL
The newbuilding market activity has been significantly positive from a dry bulk owner perspective during the first half of 2022. Indeed, the contra ...
Wednesday, 18 May 22
INDONESIAN COAL PRICE REFERENCE DROPPED 4.42% IN MAY
COALspot.com: Indonesian Coal Price Reference for May delivery drops 4.42 per cent month on month.
The Indonesian Coal Price Referen ...
Thursday, 12 May 22
MARKET INSIGHT - INTERMODAL
Almost through half of the year, the overall shipping market continues to show signs of healthiness, after plenty of festivities and holidays that ...
Wednesday, 27 April 22
EUROPEAN UNION'S LNG IMPORTS - BANCHERO COSTA
In 2021, the European Union (27) was the third largest seaborne importer of LNG in the world, with a 15.8% share.
It followed Mainla ...
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- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
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- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Planning Commission, India
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- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
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- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
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- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
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- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Marubeni Corporation - India
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
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- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
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