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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, 08 September 21
MARKET INSIGHT - INTERMODAL
Last August was extremely hot in the dry bulk market with rates rising at levels that we have years to witness. The dry bulk index exceeded the 4,0 ...
Wednesday, 01 September 21
KOMIPO TO BUY 1.56 MILLION TONS OF 5600 NAR COAL OF AUSTRALIA OR SOUTH AFRICAN ORIGIN FOR 2022 - 2024
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
Wednesday, 01 September 21
MARKET INSIGHT - INTERMODAL
As the summer season is coming to an end, the dry bulk market continues to rally. The confidence that the outstanding freight market performance ha ...
Monday, 30 August 21
68% OF U.S. COAL FLEET RETIREMENTS SINCE 2011 WERE PLANTS FUELED BY BITUMINOUS COAL - EIA
In 2011, the United States had 317.6 gigawatts (GW) of coal-fired electric generation capacity. About 88.7 GW of that capacity was retired in the d ...
Friday, 27 August 21
ALL YOU NEED TO KNOW ABOUT COAL'S MASSIVE RALLY AND NEAR-TERM OUTLOOK - CNBCTV18
Australia’s thermal coal at Newcastle Port, the benchmark for the vast Asian market, has surged over 100 percent this year to trade above $16 ...
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- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- VISA Power Limited - India
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Planning Commission, India
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Minerals Council of Australia
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Australian Coal Association
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
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