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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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Thursday, 23 August 18
SUPRAMAX: SOME FRESH COAL CARGOES APPEARED IN SE ASIA, GIVING A BIT PRESSURE ON RATES FOR END AUGUST SHIPMENTS - FEARNLEYS
Capesize
Slightly softer but generally very healthy for the big ships, with limited supply of early tonnage and positive Brazilian ore export v ...
Wednesday, 22 August 18
KOMIPO INVITES BIDS FOR 480K TONS OF BITUMINOUS COAL FOR BORYEONG POWER PLANT & SHIN BORYEONG POWER PLANTS
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 480,000 mt of min. 5700 NAR coal of Australian origi ...
Monday, 20 August 18
SUPRAMAX: OVERALL IT WAS A POSITIVE WEEK FOR THE BSI INDEX WITH GAINS MADE - THE BALTIC BRIEFING
Capesize
A week of largely unfulfilled expectations with holidays again curbing activity. Rates remained essentially healthy, but despite bad wea ...
Friday, 17 August 18
DO ARBITRATION AGREEMENTS IN BILLS OF LADING BIND THEIR HOLDERS? - WFW
KNOWLEDGE TO ELEVATE
Bills of lading are a crucial part of the security package traditionally sought by trade finance providers.
...
Friday, 17 August 18
MALAYSIA'S MANJUNG 4 - WORLD COAL ASSOCIATION
According to the IEA’s Energy Access Outlook 2017 report, nearly all of those who gained access to electricity worldwide in the last 16 years ...
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Showing 1641 to 1645 news of total 6871 |
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- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Australian Coal Association
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- The University of Queensland
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
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