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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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Monday, 17 September 18
GLENCORE RETURNS TO JAPAN COAL TALKS SCUPPERED BY HIGH PRICES - BLOOMBERG
Mining giant Glencore Plc and Japanese utilities have resumed thermal coal supply negotiations, restarting talks that fell apart earlier this year ...
Monday, 17 September 18
SMALL PERCENTAGE OF THE WORLD FLEET WILL FIT SCRUBBERS - FORECASTS : METTE KRONHOLM FRAENDE
In recent months, there have been numerous reports of a strong pick-up in demand for scrubbers. On 1 January 2020, however, the number of ships fit ...
Saturday, 15 September 18
POWERING SUSTAINABLE DEVELOPMENT WITH LOW EMISSION COAL TECHNOLOGIES - WCA
In its 5th Strategic Energy Plan this year (2018), the Japanese Cabinet recognised coal as an important energy resource, necessary for the country& ...
Friday, 14 September 18
10 YEARS ON FROM LEHMAN, HOW IS SHIPPING'S "HANGOVER"? - CLARKSONS RESEARCH
On 15th September 2008, the collapse of Lehman Brothers crystallised the financial crisis and the onset the worst economic downturn for a century. ...
Thursday, 13 September 18
OPEC SEES SLOWER 2019 OIL DEMAND GROWTH, WARNS ON ECONOMY
Crude Oil Price Movements
In August, the OPEC Reference Basket declined by $1.01 m-o-m, settling at $72.26/b. Crude oil futures were also down ...
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Showing 1616 to 1620 news of total 6871 |
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- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Planning Commission, India
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
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