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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, 29 March 22
MEMR OF INDONESIA HAS FIXED COAL PRICE AT US$ 90 PER TONNE FOR DOMESTIC INDUSTRIES EXCEPT SMELTER INDUSTRIES; FOR PLN USD 70 IS APPLICABLE
Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif has set the selling price of coal for domestic, industrial except metal processing an ...
Monday, 21 March 22
A FORCE MAJEURE TO BE RECKONED WITH - BALTIC EXCHANGE
Sanctions cause payment confusion
This dispute in MUR Shipping BV v. RTI Ltd [2022] EWHC 467 (Comm) related to an owner’s purported exercis ...
Monday, 21 March 22
CHINA'S COAL OUTPUT UP 10.3 PCT IN FIRST TWO MONTHS - XINHUA
China’s raw coal output posted fast growth in the first two months of 2022, while coal imports continued to shrink, official data showed.
...
Tuesday, 15 March 22
INDUSTRY VETERANS & ORGANIZATIONS HONOURED WITH THE PRESTIGIOUS SHIPTEK INTERNATIONAL AWARDS 2022
Press Release: The 15th edition of the prestigious ShipTek International Conference & Awards 2022 concluded successfully from March 7th - 8th 2 ...
Tuesday, 15 March 22
CHINA'S COAL OUTPUT GROWS TO STABILIZE MARKET SUPPLY - XINHUA
China’s coal market has seen growth in output since late February amid the country’s efforts to stabilize production and ensure supply, ...
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- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Cement Manufacturers Association - India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- The Treasury - Australian Government
- Australian Coal Association
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
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