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Wednesday, 22 August 18
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
 During the most quite week of the summer period we witnessed a trade war between United States and Turkey. A battle, which started with the arrest of an American pastor in Turkey. The effects of the trade war were immediate with U.S. President Tramp stating on twitter: I have just authorized a doubling of Tariffs on Steel and Aluminum with respect to Turkey as their currency, the Turkish Lira, slides rapidly downward against our very strong Dollar! Aluminum will now be 20% and Steel 50%. Our relations with Turkey are not good at this time.
This had as a consequence the fall of the Turkish Lira from 5.25 to a historical low against the U.S dollar. With the new sanctions Turkey’s President Recep Tayyip Erdogan reacted with boycotting American electronics and announced that Turkey will place a 140% tariff on U.S. alcohol, 120% on U.S. passenger vehicles and 60% on tobacco. Other products subject to new tariffs will include rice, nuts, cosmetics, uncoated paper and mechanical appliances. In addition, in order to boost its economy Turkey successfully secured a $15 billion investment from Qatar. The Qatari state announced that the money would go towards economic projects, investments and deposits.
The results of the trade war are immediate as MMK, one of Russia's largest steel producers, has postponed the launch of a lucrative project in Turkey due to the uncertainty that has been created amongst the counties. According to the news it is estimated that this investment is worth around $2 billion.
Focusing on the shipping industry, can this battle between the countries, affect the market in general? As we have already seen, a sector that is being affected from the trade war is Turkey’s demolition market. More specifically last week they were rumours that local cash buyers refused to offer for demo tonnage with the huge drop of Turkish Lira and local steel plate prices. Although there is not any official announcement that the market is closed, it is uncertain how the market will perform during the rest of the year. The possibility that many ship owners will change their decision to send their vessels for demo in Turkey is now big, while the said import tariffs could add extra pressure on the local market.
On the other open front between the U.S. and China expectations remain mixed. On one hand, positive news emerged last week in regards to the end of this trade war that pushed Asian market up, but following this news President Trump stated on an interview in Reuters that there is still "no timeframe" for such development.
All in all, 2018 is undoubtedly a good year so far for the shipping industry in most markets and everyone is expecting a strong Q4. But, as we all know to trade wars and politics greatly affect the shipping industry especially when we are referring to the strongest economies in the world. It therefore remains to be seen whether all of the above will push back the on-going recovery in a number of sectors or not.
By George Panagopoulos
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
George Panagopoulos
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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Saturday, 20 October 18
PANAMAX: THE PACIFIC SAW A LARGE VOLUME OF FIXING, WITH INDONESIA AGAIN THE DRIVING FORCE - THE BALTIC BRIEFING
Capesize
A positive end to last week after a shaky start, with a Coaltrans taking participants out of the market early on and with rates slippi ...
Thursday, 18 October 18
SUPRAMAX: INDO/WC INDIA SUPRAS ARE FIXING AROUND MID $14000S P/D BASIS SPORE DELIVERY
Capesize
The volatile Cape market continues this week, especially in the Pacific says Fearnleys in its latest weekly report.
...
Thursday, 18 October 18
COAL SHORTAGE HITS POWER SECTOR AGAIN; HOW INDIA CAN GET ITS PRODUCTION RIGHT - ANIL SWARUP
By convincing states of the value proposition of increased production, the record production of Fy15 & Fy16 can be emulated.
The ...
Thursday, 18 October 18
CHINA POWER REFORM NEUTRAL ON GRIDS, PRESSURES IPP MARGINS - FITCH RATINGS
China's power sector reform has a broadly neutral impact on transmission grids although it will pressure the power producers' margins, says ...
Wednesday, 17 October 18
ESCROW SERVICE FOR BALTIC MEMBERS NOW LIVE
The Baltic Exchange’s Escrow Service for its members to hold deposits for ship sale transactions goes live today (15 October). The service is ...
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Showing 1586 to 1590 news of total 6871 |
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- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- White Energy Company Limited
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Australian Coal Association
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
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