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