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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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Friday, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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Showing 31 to 35 news of total 6871 |
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- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Planning Commission, India
- Minerals Council of Australia
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- White Energy Company Limited
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
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