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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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Monday, 25 October 21
A QUESTION OF POSSESSION - THE BALTIC EXCHANGE
Possession and tangibility are closely related concepts long established under English law. Yet a change to these concepts is around the corner. Th ...
Monday, 25 October 21
CHINA VOWS TO SEVERELY PUNISH MARKET VIOLATIONS AMID LOW COAL FUTURES PRICES - GLOBAL TIMES
Domestic coal futures had plunged for three consecutive trading days after the government vowed to crack down on soaring prices, and China’s ...
Monday, 25 October 21
FARMERS MAY JOIN THE COAL COMMODITY MARKET TO REDUCE RISKS - GLOBAL TIMES
A recent trip to by the Global Times to East China’s Shandong Province to get a glimpse of China’s coal supply chain revealed a surpris ...
Monday, 25 October 21
CHINA COAL PRICES MARK WORST WEEK SINCE MAY ON GOVERNMENT INTERVENTION - REUTERS
China’s thermal coal futures plunged on Friday and turned in their worst week in five months, following Beijing’s strongest interventio ...
Friday, 22 October 21
THE BIG PICTURE: ENERGY MARKETS - BREAK WAVE ADVISORS
The shipping markets have been pulled further into wild markets of coal and other energy sources. Given how nebulous this sector is, it’s alw ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- The University of Queensland
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Australian Coal Association
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
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- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- VISA Power Limited - India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- White Energy Company Limited
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
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