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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, 05 September 18
ASIAN DEMAND COULD CREATE DEFICIT IN GLOBAL LNG MARKET - FITCH RATINGS
Growing gas demand from Asia, particularly from China, could swing the liquefied natural gas (LNG) market into a deficit by 2022-2025, Fitch Rating ...
Tuesday, 04 September 18
SUPRAMAX: THE ASIAN SECTOR REMAINED ACTIVE WITH RATES STILL FIRM ESPECIALLY IN SE ASIA - BALTIC BRIEFING
Capesize
A turnaround in fortunes for the big ships, with a few slower days in the market. A build-up of tonnage and a lack of Brazil cargoes r ...
Thursday, 30 August 18
SUPRAMAX: CIS COAL TO FAR EAST WENT AT MID TENS AND TO SE ASIA AT CA USD 8000 - FEARNLEYS
Capesize
There was a slow start this week with holiday in UK on Monday. The index has been slowly coming off since then; The C5 route has seen ...
Wednesday, 29 August 18
MID-YEAR FY19 POWER OUTLOOK: IMPORTED COAL REQUIREMENT TO INCREASE DURING REMAINING FY19: IND-RA
India Ratings and Research (Ind-Ra) has maintained a stable-to-negative outlook on the Indian power sector for the remaining FY19, despite a rise i ...
Wednesday, 29 August 18
IMPACT ON CHARTERPARTIES - TIME TO ACT NOW : NORTH P&I CLUB
KNOWLEDGE TO ELEVATE
The challenges introduced by the global sulphur cap are not exclusively technical. The new limits are likely to impact co ...
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Showing 1631 to 1635 news of total 6871 |
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- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- PTC India Limited - India
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
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