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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, 26 November 21
CHINA FINDS COMPLIANCE PROBLEMS IN COAL PRICE INDEX PROBE - REUTERS
China’s state planner on Wednesday said it had discovered some “noncompliant” behaviour among coal price index providers as it an ...
Thursday, 25 November 21
SE ASIA POWER DEMAND TO RISE AS STATE SUPPORT MITIGATES COVID-19 IMPACT - FITCH RATINGS
Electricity demand in south-east Asia is likely to increase in 2021, following slow growth or contraction in 2020, thanks to state support that has ...
Thursday, 25 November 21
FITCH RATINGS INCREASES MOST GLOBAL METALS AND MINING PRICE ASSUMPTIONS - FITCH RATINGS
Fitch Ratings has increased most metals and mining price assumptions, particularly those that benefit from increased longer-term demand due to glob ...
Thursday, 25 November 21
CHINA'S COAL PRICE DROPS IN MID-NOVEMBER AMID GOVERNMENT’S SWEEPING MEASURES - GLOBAL TIMES
China’s coal prices have dropped significantly in mid-November compared with the beginning of the month, with the price of coking coal and co ...
Wednesday, 24 November 21
MARKET INSIGHT - INTERMODAL
Inflation is the word that has dominated the meetings of foreign leaders and finance ministers in recent weeks, as rising energy costs, supply chai ...
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- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- PTC India Limited - India
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
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