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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, 27 January 22
2022 - A YEAR OF REBALANCING FOR METALS AND MINING - WOOD MACKENZIE
If 2021 was the year of rebound for metals and mining (M&M) commodities, then 2022 is shaping as the year of rebalance, says Wood Mackenzie, a ...
Wednesday, 26 January 22
MARKET INSIGHT - INTERMODAL
While it is logical that most of the S&P reports of the first weeks of the year are linked to very limited activity as reflected in the weekly ...
Wednesday, 26 January 22
INDONESIA: DME PROJECT IS ECONOMICALLY VIABLE AS STUDY DEMONSTRATES
The government is encouraging downstream coal processing or increase in coal added value, for example by turning coal into Dimethyl Ether (DME) to ...
Wednesday, 26 January 22
COMMODITY PRICES COULD SOAR IF THE RUSSIA-UKRAINE CRISIS ESCALATES - ING
It appears that a number of commodity markets are starting to at least price in some geopolitical risk around the growing tension between Russia an ...
Wednesday, 26 January 22
INDONESIA'S COAL BAN SENDS PRICES SOARING, OTHER EXPORTERS FAIL TO STEP UP - REUTERS
Indonesia’s short-lived ban on exporting coal has sent ructions through the seaborne market for the fuel in Asia, with the fallout likely to ...
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- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Planning Commission, India
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- The University of Queensland
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
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