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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, 14 December 21
COAL LOCK-IN IN SOUTHEAST ASIA PRESENTS A CHALLENGE FOR THE ASIAN DEVELOPMENT BANK'S COAL RETIREMENT PLAN - IEEFA
In August, the Asian Development Bank (ADB) announced an ambitious plan to buy high emissions coal-fired power plants in Southeast Asia and retire ...
Saturday, 11 December 21
BUNKER BUYERS LOSE UP TO $5/MT FOR NOT COVERING ENOUGH SUPPLIERS - INTEGR8 FUELS
With the Brent price recently touching the $80 mark and before the Omicron variant concerns pushed it lower, bunker prices reached levels not seen ...
Tuesday, 07 December 21
SUPERCYCLE DEMAND: ARE WE THERE YET? - WOOD MACKENZIE
Taking young children on a long journey is fraught with challenges, not least the inevitable question a few minutes after leaving: are we there yet ...
Tuesday, 07 December 21
COAL WOULD REMAIN ENERGY LEADER FOR AT LEAST 15 YEARS - LIVEMINT
Coal India Ltd (CIL) has been in the eye of the storm after fuel stocks at coal-fuelled power plants depleted in October. Fuel stocks since are bei ...
Tuesday, 07 December 21
GLOBAL SHIPPING OUTLOOK TURNS STABLE FROM POSITIVE ON THE BACK OF PEAKING EARNINGS DURING 2021 - MOODY'S
The outlook for the global shipping industry is changed to stable from positive for the next 12 to 18 months due to demand slightly outstripping su ...
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- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
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