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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, 12 September 18
MARINE BUNKERS: THE END OF THE WORLD AS WE KNOW IT - IBIA
KNOWLEDGE TO ELEVATE
The world of bunkers is heading for rapid and fundamental changes and not just because of the 0.50% sulphur cap in 2020. ...
Wednesday, 12 September 18
SHIPPING MARKET INSIGHT - THEODORE NTALAKOS
A recovery in the shipping market since last year has buoyed optimism amongst the people in the industry. Yet if you are to ask most ship-owners if ...
Monday, 10 September 18
HANDYSIZE: PERIOD ACTIVITY REMAINED LIMITED WITH A 37,000DWT REPORTEDLY FIXED FOR FOUR TO SIX MONTHS AT $10,500, OPEN IN MALAYSIA IN MID-SEPTEMBER - BALTIC BRIEFING
Capesize
Rates came under pressure for the big ships last week, despite paper values holding at reasonable levels as these trades continued to ...
Thursday, 06 September 18
INDONESIAN COAL PRICE REFERENCE FALLS FOR FIRST TIME IN 3 MONTHS
COALspot.com: The benchmark price of Indonesian thermal coal falls for first time in three months.
According to the latest min ...
Thursday, 06 September 18
SUPRAMAX: SE ASIA-INDO ROUNDS WITH COAL HAVE BEEN CONCLUDED IN THE $13000S RANGE - FEARNLEYS
Capesize
The big ships experiencing a bump in the road towards what is commonly expected to be by far the best period of this year. Average dai ...
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- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Parliament of New Zealand
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- MS Steel International - UAE
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Eastern Coal Council - USA
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