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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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Wednesday, 04 July 18
TANKER MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
2 years tanker briefing in tanker asset prices
The tanker market is undoubtedly passing one of its’ roughest times over the la ...
Tuesday, 03 July 18
COAL, THE SECOND MAIN COMMODITY FOR CAPES, HAS BEEN SHOWING A REMARKABLE RISE IN TRADE VOLUMES IN THE YEAR SO FAR - THOMAS CHASAPIS
Having reached the mid-point in the year, it seems to be a good time to summarize the overall trends noted in the Dry Bulk sector and more specific ...
Tuesday, 03 July 18
SUPRAMAX: A 56,000-DWT WAS FIXED BASIS DELIVERY SINGAPORE TRIP VIA INDONESIA, REDELIVERY CHINA, AT $12,100 - BALTIC BRIEFING
Capesize
The market generally drifted and by mid-week dropped to what some felt was an artificially low level, only to bounce back at the end o ...
Tuesday, 03 July 18
COAL OVERTAKES IRON ORE IN GOVERNMENT FORECASTS AS AUSTRALIA'S LARGEST EXPORT FOR 2018-19 - MINERALS COUNCIL OF AUSTRALIA
Coal is forecast to be Australia’s largest export earner at $58.1 billion in 2018-19 with iron ore exports forecast to earn $57.7 billion in ...
Monday, 02 July 18
THIESS SECURES NEW QCOAL NORTHERN HUB $480M CONTRACT
Thiess has been awarded a new A$480 million contract by QCoal to continue operations at the QCoal Northern Hub located in Queensland’s Bowen ...
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Showing 1681 to 1685 news of total 6871 |
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- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- VISA Power Limited - India
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Australian Coal Association
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
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