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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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Wednesday, 03 October 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
The bunker fuel supply and availability landscape is close to its transformation with the enforcement of the IMO’s global 0.5% fuel Sulphur c ...
Tuesday, 02 October 18
PANAMAX: A FURTHER RISE ACROSS ALL MAIN ROUTES THIS WEEK - ALLIED
Capesize
Finally an upward recovery was in sight in the spot market the past few days, after the prolonged negative pressure noted the weeks pr ...
Tuesday, 02 October 18
THE PRICE OF OIL CONTINUES ITS CLIMB AMIDST A SERIES OF CONCERNS REGARDING SUPPLY CONSTRAINTS - GEORGE LAZARIDIS
It has been a busy week for oil traders as the price of oil continues its climb amidst a series of concerns regarding supply constraints.
...
Tuesday, 02 October 18
INDONESIA GETS READY TO MEET INCREASED COAL DEMAND FROM CHINA, FREIGHT TO RESPOND - MIKAL BOE
Indonesian coal suppliers have increased their domestic coal production target by 4.5 percent from a previous 485 million tonnes to a massive 507 m ...
Monday, 01 October 18
SUPRAMAX: A 56,000 DWT FIXED DELIVERY FOR A SURABAYA TRIP WITH REDELIVERY TO WEST COAST INDIA AT $13,500 - THE BALTIC BRIEFING
Capesize
A stop-start market for the big ships with many expectations and few fulfilled. Holidays curtailed trading early in the week, but the ...
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- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- PTC India Limited - India
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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