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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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- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- White Energy Company Limited
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Parliament of New Zealand
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
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