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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, 13 October 21
MARKET INSIGHT - INTERMODAL
Following up on our insight on May 2021, where we discussed about the Capesize market outlook for the second half of the year, we are pleased to se ...
Wednesday, 13 October 21
FBX INDEX: THE IMPOSSIBILITY OF SHORT-TERM FORECASTING - LARS JENSEN
Will freight rates on Asia-Europe or the Transpacific reach 40.000 USD/FFE in the run-up prior to Chinese New Year 2022? Or will they start droppin ...
Wednesday, 13 October 21
CHINA FLOODS: COAL PRICE HITS FRESH HIGH AS MINES SHUT - BBC
The price of coal used in China’s power plants has surged to a new record high as another of the country’s key mining regions is hit by ...
Tuesday, 12 October 21
BUMA SIGNS CONDITIONAL AGREEMENT FOR AUSTRALIAN ASSET ACQUISITION
PT Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama, through its newly incorporated Australian subsidiary, BUMA International Pty ...
Tuesday, 12 October 21
INDONESIA'S COAL-BASED POWER PLANTS ARE SUBJECT TO CARBON TAX NEXT YEAR, ELECTRICITY COSTS COULD RISE! - CNBC
The Indonesian government is planning plans to implement a carbon tax of IDR 30 per kilogram (kg) of carbon dioxide equivalent (CO2e) or equivalent ...
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- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Bhatia International Limited - India
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
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