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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, 21 January 22
CHINA'S POWER TRADING TARIFFS TO RISE IN 2022 - FITCH RATINGS
Rising trading volume and higher-than-benchmark tariffs in the 2022 bilateral contracts signed between Chinese power generation companies (gencos) ...
Thursday, 20 January 22
CHINESE COAL JUMPS OVER 6% ON PRE-HOLIDAY SUPPLY WORRY - REUTERS
China’s thermal coal futures soared more than 6% on Wednesday, hitting a level last seen in late November as investors grew concerned over ti ...
Thursday, 20 January 22
VIETNAM: COAL SECTOR SEES POSITIVE PROSPECT IN 2022 - VNA
With many signs of rising demand for coal in various economic sectors in 2022, the Vietnam National Coal – Mineral Industries Group (Vinacomi ...
Wednesday, 19 January 22
MARKET INSIGHT - INTERMODAL
Since the beginning of the year, we have been witnessing the BDI correcting downwards with sizable drops across all segments. Latest similar levels ...
Sunday, 09 January 22
INDONESIA MINISTER SAYS 'EMERGENCY OVER' ON COAL SUPPLY CRUNCH - REUTERS
Indonesia’s power emergency which has triggered a coal export ban is over but the government will still continue to discuss policies in this ...
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- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Sojitz Corporation - Japan
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