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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, 07 December 21
COAL FIRMS SEE SHARE PRICES SURGE MONDAY, AFTER GOVERNMENT READJUSTS CONTRACT PRICES - GLOBAL TIMES
Share prices of China’s coal enterprises jumped on Monday on the A-share market following a nationwide adjustment to annual thermal coal pric ...
Monday, 06 December 21
CHINA SETS 2022 ANNUAL THERMAL COAL PRICES AT 700 YUAN/T - MEDIA: REUTERS
China’s top economic planner has proposed to set annual thermal coal prices for 2022 at between 550 yuan and 850 yuan ($86-$133) per tonne, a ...
Thursday, 02 December 21
BUMI RECORDED US$ 666.18 MILLION AS REVENUE IN THE 3RD QUARTER, UP 13.31% YOY
PT Bumi Resources Tbk and its subsidiaries have recorded a surge in revenue in the third quarter of 2021. BUMI has recorded US$ 666.18 million as r ...
Thursday, 02 December 21
CHINA'S COAL CRUNCH IS OVER, BUT PRICES ARE STILL TOO HIGH - REUTERS
China’s coal crisis has largely been resolved with gains in both production and stockpiles sufficient to ensure power supplies over winter.
...
Wednesday, 01 December 21
2022 OUTLOOK: INDONESIAN COAL MINING - FITCH RATINGS
Fitch Ratings has a neutral outlook on the Indonesian coal sector for 2022.
Earnings generation should slow down as selling pr ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- GMR Energy Limited - India
- The University of Queensland
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
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