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