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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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Tuesday, 25 September 18
THE INCONVENIENT TRUTH OF RISING COAL PRICES - FORBES
Coal prices are not supposed to be rising as governments tighten environmental controls but that’s precisely what is happening at the premium ...
Saturday, 22 September 18
SHIPOWNERS URGENTLY NEED A FUEL-MANAGEMENT PLAN - METTE KRONHOLM FRAENDE, BIMCO
With the majority of ship operators expected to choose low-sulphur fuel over scrubbers to comply with the new IMO sulphur cap regulation, all eyes ...
Saturday, 22 September 18
GERMANY'S MOVE TO SCRAP COAL WILL COST TAXPAYERS - BRIAN PARKIN | WILLIAM WILKES
Chancellor Angela Merkel’s plan to close Germany’s remaining coal-fired power stations will drive up subsidies for regions that mine th ...
Saturday, 22 September 18
FITCH RATINGS: WORLD GROWTH FORECAST CUT ON US-CHINA TRADE BATTLE
Protectionist US trade policies have now reached the point where they are materially affecting what remains a strong global growth outlook, with th ...
Tuesday, 18 September 18
COOLING OUTLOOK FOR COAL - KATE JONES
At a time of increasing focus on the renewables market as the world seeks to clean up its act to prevent climate change, what is the outlook like f ...
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Showing 1611 to 1615 news of total 6871 |
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- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
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