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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, 25 April 18
TANKER MARKET INSIGHT - THEODOROS NTALAKOS
We had the opportunity to be part of Intertanko's Hellenic Mediterranean Panel last week in the SNFCC and to present an outlook on the tanker f ...
Tuesday, 24 April 18
IMPORTING INDONESIAN COAL MAKES SENSE FOR INDIAN COASTAL PLANTS EVEN WHEN IT IS COSTLIER THAN INDIAN - ECONOMIC TIMES
Rising Indonesian coal production and lower Chinese demand have pulled down Indonesian coal prices by 22% over the last 45 days, a trend that augur ...
Tuesday, 24 April 18
IMO AIMS TO HALVE GLOBAL SHIPPING EMISSIONS - BUT WHAT WILL IT COST? - WOOD MACKENZIE
Global bunker fuel costs could rise by up to US$60 billion annually from 2020, in a full compliance scenario, when the International Maritim ...
Tuesday, 24 April 18
TWO 56K-DWT OPEN HONG KONG AND SINGAPORE WERE FIXED FOR INDONESIA COAL TRIPS TO CHINA, AT $9,500 AND $11,000 RESPECTIVELY - BALTIC BRIEFING
Capesize
This week has seen the Cape 5 timecharter weighted average almost double. Similarly, the Brazil to China ore rates climbed over $4.50, f ...
Wednesday, 18 April 18
SHIPPING MARKET INSIGHT - STELIOS KOLLINTZAS
The return of traders and charterers from the Easter festivities came along with a slight increase in activity across the edible oil markets. Howev ...
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Showing 1736 to 1740 news of total 6871 |
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- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- The University of Queensland
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Planning Commission, India
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
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