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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, 08 March 22
RUSSIA-UKRAINE CONFLICT ADDS IMPETUS TO ASIA'S ENERGY TRANSITION - IEEFA
Clean energy alternatives are a crucial hedge against future disruptions in global commodity markets
Russia’s invasion of Ukra ...
Tuesday, 08 March 22
THE HIGH COST OF INDONESIA’S DOWNSTREAM COAL PROJECTS IS UNDERESTIMATED - IEEFA
Three Indonesian ministries have come up with a DME purchase price of US$378/tonne fixed for 20 years compared to IEEFA’s US$601/tonne estima ...
Wednesday, 02 March 22
SHIPPING MARKET INSIGHT - INTERMODAL
The escalating confrontation between Russia and Ukraine has the potential to disrupt global order and set the world back a few decades. While count ...
Tuesday, 22 February 22
THE DRY BULK MARKET HAS MOVED ON A POSITIVE TRACK - ALLIED
The dry bulk market has moved on a positive track as of the past couple of weeks or so. Following the typical softening in freight conditions durin ...
Tuesday, 22 February 22
CHINA'S DAILY OUTPUT OF COAL REBOUNDS TO OVER 12 MLN TONNES - REUTERS
China’s coal output returned to more than 12 million tonnes per day as of Feb. 20, the country’s state planner said on Monday, a level ...
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- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Australian Coal Association
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Minerals Council of Australia
- Parliament of New Zealand
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
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