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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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Wednesday, 23 August 17
THE STRONG IRON ORE TRADE ROUTES SUPPORT CAPESIZE SEGMENT - INTERMODAL
The upward trend in the Capesize segment is definitely being supported by the strong momentum in the key iron ore trade routes. The price of high-q ...
Tuesday, 22 August 17
WHAT IS A RELEASE CALL?
KNOWLEDGE TO ELEVATE
Joining a mutual P&I Club means each Member shares in the fortunes of that Club and its membership. The continuity of ...
Tuesday, 22 August 17
THOSE DOG DAYS OF SUMMER STEEL PRODUCTION IN CHINA - COMMODORE
COALspot.com: One popular but inaccurate narrative that makes the rounds every June and July (and occurred again this year) is that China’s s ...
Monday, 21 August 17
BANPU REVEALS FIRST HALF 2017 WITH STRONG RESULTS; SUPPORTED BY HIGHER COAL PRICES
Banpu Reveals First Half 2017 with Strong Results from Higher Coal Prices Gearing Up to the Era of New Energy with Banpu Greener & Smarter Stra ...
Monday, 21 August 17
INDIA'S COAL IMPORTS DECLINE TO 192 MT IN FY17 - PTI
Import of coal saw a decline of 6.37 per cent to 191.95 million tonnes (MT) in 2016-17 on higher production by CIL that saw the country move to a r ...
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Showing 1961 to 1965 news of total 6871 |
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- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Minerals Council of Australia
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- PTC India Limited - India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
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