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