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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, 18 May 18
INDONESIA'S SAMARINDA ANCHORAGE COAL LOADING ACTIVITIES WERE RESUMED YESTERDAY AT 4PM LOCAL TIME
Samarinda Anchorage coal loading activities were resumed yesterday at 4PM local time.
Local fishermen in Samarinda Anchorage have been demonst ...
Wednesday, 16 May 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Half-way through the second quarter of the year and as the Posidonia week approaches everyone is getting ready for this unique gathering that besid ...
Thursday, 10 May 18
PRIVATE POWER PRODUCERS NEED A 'POWERFUL PUSH' - PRADEEP MITTAL
- PLF of the Private Sector in the country (Coal and Lignite based) for FY 2017-18 (till Dec 2017) is 56%.
- 51 GW of stressed assets (Thermal &a ...
Tuesday, 08 May 18
BUMA SIGNED OVER US$1 BILLION WORTH OF NEW CONTRACT WITH PT INDONESIA PRATAMA
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama, has entered into mining services contracts with PT Indones ...
Monday, 07 May 18
BENCHMARK PRICE OF INDONESIAN THERMAL COAL DROPPED BACK BELOW $90 A TON THIS MONTH
COALspot.com: According to latest ministerial decree No. 1812 K/30/MEM/2018 dated 3 May 2018, the Indonesian Coal Price Reference (HBA) decline 5.5 ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Economic Council, Georgia
- White Energy Company Limited
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Planning Commission, India
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- MS Steel International - UAE
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
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