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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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Wednesday, 24 November 21
WHY THIS MINING ANALYST IS UPBEAT ON THE IRON ORE PRICE FORECAST - MOTLEY FOOL
In many ways, 2021 can be called the year of the iron ore price. Much of the talk of the ASX town this year has revolved around this key economic m ...
Wednesday, 24 November 21
PRICE OF CHINA’S COAL FUTURE DROPS BY 60% AS NATIONWIDE DAILY OUTPUT REACHES OVER 12 MILLION TONS: NDRC - GLOBAL TIMES
China’s daily coal output has now stabilized after reaching over 12 million tons and the price of coal futures has declined to 800 yuan ($125 ...
Friday, 19 November 21
CHINA: COAL SUPPLIES TO STABILIZE FOR COMING COLD SEASON
China is capable of ensuring stable coal supplies this winter and next spring with the increase in coal production and the rising stockpiles at pow ...
Wednesday, 17 November 21
MARKET INSIGHT - INTERMODAL
It has been another declining week for the dry bulk market and evidently, we are seeing asset values gradually losing momentum as well. Following a ...
Tuesday, 16 November 21
EARNINGS RECOVERY IN INDONESIAN COAL TO CONTINUE THROUGH 2021, BUT SLOW IN 2022 - FITCH RATINGS
The recovery in the operating and financial performance of Indonesian coal miners and coal contractors is likely to slow in 2022, but coal prices s ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- The University of Queensland
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Minerals Council of Australia
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
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