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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, 16 August 18
COAL PRODUCTION AT 37.11 PERCENT OF FULL-YEAR TARGET - THE JAKARTA POST
Indonesian coal production was recorded at 180 million tons on Wednesday, or 37.11 percent of the government’s 485 million target this year.
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Thursday, 16 August 18
OIL MARKET HIGHLIGHTS - OPEC
Crude Oil Price Movements
In July, the OPEC Reference Basket increased marginally by 5¢ m-o-m to settle at $73.27/b. Oil futures saw mixed ...
Tuesday, 14 August 18
THE CAPESIZE MARKET HAS SHOWN A TREMENDOUS COURSE DURING THE PAST 12 MONTHS - THOMAS CHASAPIS
The Capesize market has shown a tremendous course during the past 12 months, having quickly climbed out of the “hole that it had found itself ...
Monday, 13 August 18
A 50,200 DWT FIXED DELIVERY SINGAPORE TRIP VIA INDONESIA REDELIVERY CHINA IN THE LOW $10,000S - THE BALTIC BRIEFING
Capesize
Expectations of a further push in the market were largely unfulfilled last week as rates come under pressure in Asia as the North Atla ...
Friday, 10 August 18
U.S. COAL PRODUCTION TO DECLINE BY 1.8% IN 2019 BECAUSE COAL EXPORTS AND COAL CONSUMPTION ARE BOTH FORECAST TO DECREASE - EIA
EIA forecasts U.S. coal production will decline by 1.1% to 766 million short tons (MMst) in 2018 despite a 5.7% (6 MMst) increase in coal exports.
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Showing 1646 to 1650 news of total 6871 |
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- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- SMC Global Power, Philippines
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Planning Commission, India
- The Treasury - Australian Government
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
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