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Wednesday, 13 September 17
SOME THOUGHTS ON NORTH KOREA, US & CHINA - THEODORE NTALAKOS
 The trade volume between North Korea and China is more than $5 billion per year. 83% of North Korea's exports end up in China; similarly, about 85% of the nation’s imports come from China. The rest of the trade is with countries like India, Russia, Pakistan, Thailand, and Mexico. Although Russia's trade with North Korea is marginal, total volume being less than $100 million, it should not be disregarded as Russia will not lose out on the opportunity to strengthen its own influence on North Korea as China's role diminishes. So, it was important for the USA to convince both China and Russia to agree to the trade restrictions in order to put pressure on North Korea.
From a Chinese perspective, Russia is needed to be onboard as the country has seen its own political influence over North Korea weakening. So the possibility that Russia would benefit from the Chinese trade reduction would give Beijing second thoughts about how aggressive to be on their pressure to Pyongyang. Although China has slashed coal imports from North Korea, the overall trade has risen in the first half of 2017 mostly from textile exports, in order to compensate and not lose out on total trade volumes. Now, the new sanctions approved by the U.N. Security Council target imports of refined oil products and textile exports. According to data from Bloomberg, the new measures would cut North Korean exports by 90%. This puts pressure on China but it also assures that Russia will be unable to exploit the situation to pursue its own economic or geopolitical visions.
The power-game around the Korean peninsula is huge, some analysts even warn that amidst the threats between the United States and North Korea and the ongoing nuclear missile tests, there is a risk of dragging the US into a war with China. China will not tolerate a unified Korea under the US influence or control. They did not put up with that in 1950, when Kim Jong Un's grandfather led an attack into South Korean and when the country had a fraction of the power it has now, so it is not probable that they will tolerate it now that they are a super power. So while the U.S. may have the means to destroy the N. Korean regime either by a full-scale military attack or only by targeting its people, the question “what about China?” has not been addressed yet. On the other hand, China also needs to make sure that it doesn't give out too much, as this would send the wrong message to the U.S.
Confused yet? It looks like a diplomatic labyrinth but there is no other way than through diplomatic talks to prevent the situation from worsening but also to de-escalate the tension and the war talks. We can only hope that the dark scenarios remain just discussions between analysts and academics. Otherwise, the effects will be catastrophic with a lot of human suffering.
As far as our shipping industry is concerned, China has been importing annually about $1 billion worth of mineral products from N. Korea. So, when back in February Beijing decided to ban all imports of North Korean coal, we can only assume that these imports should come from other sources increasing the ton-mile and giving its incremental contribution to the recovery of the shipping indexes. This combined with other economic policy from China on iron ore and coal imports, the better than expected data on world trade growth for 2017 and the improving order-book to trading fleet ratio has put the long-awaited recovery on the horizon.
By Theodore Ntalakos
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Thursday, 07 September 17
CAPESIZE: EARNINGS FOR THE BIG SHIPS KEEP UP NICELY AS DIPS ARE MODERATE AND SHORT-LIVED - FEARNLEYS
Supramax
Fewer activities in the Atlantic in start of the week with the US holidays. Owners were asking around low USD 20k for trip ex USG to Far ...
Thursday, 07 September 17
TALK OF CONSTRAINTS ON CHINESE COAL OUTPUT PUSHED PRICES HIGHER - DANIEL HYNES
Commodity markets were largely higher as a weaker USD boosted investor appetite.
According to Daniel Hynes, Senior Commodity Strategist at ANZ ...
Wednesday, 06 September 17
LAYTIME - CHARTERERS' RIGHTS & PORT COSTS - NORTH P&I CLUB
KNOWLEDGE TO ELEVATE
In a recent London Arbitration decision (18/17) the Tribunal had to consider whether the owners were entitled to recover ...
Wednesday, 06 September 17
SHIPPING MARKET INSIGHT - STELIOS KOLLINTZAS
The impact of Hurricane Harvey, which made landfall on 25th of August in South East coastline of Texas area has been the major concern of the shipp ...
Tuesday, 05 September 17
COAL: A STRONG MOVEMENT IN THE COAL MARKET OVER THE SUMMER MONTHS - GEORGE LAZARIDIS
We have been witnessing a strong movement in the coal market over the summer months something that has not only helped boost prices for the commodi ...
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Showing 1951 to 1955 news of total 6871 |
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- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
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