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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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Monday, 07 May 18
SOUTH KOREA STATE-OWNED UTILITY KOREA MIDLAND POWER ISSUED A TENDER FOR 1 MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 mt of min. 5700 NAR coal of Australian origi ...
Monday, 07 May 18
GLOBAL COAL DEMAND ROSE ABOUT 1% IN 2017; ASIA ACCOUNTED FOR THE LARGEST INCREASE IN COAL DEMAND, UP 35 MTOE RELATIVE TO 2016 - IEA
Global coal demand rose about 1% in 2017, reversing the declining trend seen over the last two years. This growth was mainly due to demand in Asia, ...
Friday, 04 May 18
ELECTRICITY GENERATION FROM RENEWABLES WAS SECOND ONLY TO COAL IN 2017 - IEA
World electricity demand increased by 3.1 %, significantly higher than the overall increase in energy demand. Together, China and India accounted f ...
Thursday, 03 May 18
SUPRAMAX: INDO - CHINA COAL ROUNDS ARE PAYING IN THE LOW-MID $12000 BSS SINGAPORE DELIVERY - FEARNLEYS
Supramax
As expected a slow and uneventful start to the week with holidays in many countries, however by mid-week some fresh requirements and pos ...
Tuesday, 01 May 18
SUPRAMAX: COAL RUNS, A 61,000-DWT WAS FIXED BASIS DELIVERY SURABAYA, FOR A TRIP VIA INDONESIA, RE-DELIVERY INDIA AT $15,000 - BALTIC BRIEFING
Capesize
Rates eased in the East, as the week closed out with the momentum slowing. Levels on the key West Australia/China run dropped to $7.25 ...
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Showing 1726 to 1730 news of total 6871 |
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- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- PTC India Limited - India
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Australian Coal Association
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- White Energy Company Limited
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
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