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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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Thursday, 12 April 18
ALWAYS ACCESSIBLE
KNOWLEDGE TO ELEVATE
On 26 March 2018 Mr Justice Knowles determined that the berth warranty ‘always accessible’ must mean the vess ...
Wednesday, 11 April 18
CHINA UTILITIES PLAN NEW COAL IMPORT PRICE INDEX TO CURB VOLATILITY - REUTERS
China’s major utilities are preparing to launch their own coal price index for imports, an official at China Huaneng Group said, in a move th ...
Wednesday, 11 April 18
US-CHINA TARIFF THREATS RAISE GLOBAL TRADE RISKS - FITCH
Escalating tariff proposals by the U.S. and Chinese governments are increasing the risks of a full-blown trade war, says Fitch Ratings. The most li ...
Tuesday, 10 April 18
BUMA GRANTED ADDITIONAL LOAN FACILITY FROM BTMU TO SUPPORT GROWTH
Press Release: PT Delta Dunia Makmur Tbk. is pleased to announce that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), signed an a ...
Monday, 09 April 18
APRIL INDONESIAN COAL PRICE REFERENCE DROPS TO LOWEST IN 2018
COALspot.com: According to latest ministerial decree, the Indonesian Coal Price Reference (HBA) decline 6.98 per cent in April 2018 compared to Mar ...
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- Planning Commission, India
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- The University of Queensland
- Minerals Council of Australia
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
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