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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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Friday, 29 June 18
THE LBH GROUP AND RHENUS PLAN TO ESTABLISH A JOINT COMPANY
Press Release: The port services provider, the LBH Group, and the logistics specialist Rhenus, are planning to cooperate closely in the European in ...
Friday, 29 June 18
SUPRAMAX: INDO / CHINA COAL ROUNDS PAYING AROUND USD HIGH 11000 - FEARNLYS
Capesize
Its been an interesting week with a strong demand for ships out of Brazil, making C3 rates remain around USD 19 pmt said Fearnlys in i ...
Friday, 29 June 18
JAPAN'S TOHOKU ELEC, GLENCORE ABANDON APRIL-MARCH COAL CONTRACT TALKS - REUTERS
Japan’s Tohoku Electric Power Co Inc and Glencore Plc have abandoned talks on annual thermal coal supplies after failing to reach an agreemen ...
Wednesday, 27 June 18
SHIPPING MARKET INSIGHT - APOSTOLOS ROMPOPOULOS
After the abolishment of the trade embargo against Iran, there was a lot of optimism from the country’s side, as after quite some time a numb ...
Tuesday, 26 June 18
"ALWAYS ACCESSIBLE": ARRIVAL, DEPARTURE OR BOTH? - INCE & CO
KNOWLEDGE TO ELEVATE
An “always accessible” berth warranty is often used by an owner to transfer the risk of delays in berthing to ...
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Showing 1686 to 1690 news of total 6871 |
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- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Planning Commission, India
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
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