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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, 16 April 18
MINISTER IGNASIUS JONAN SPEAKS HIS MIND AT INDONESIA MINER - IAN WOLLFF
The Minister for Energy and Mineral resources, Ignasius Jonan, delivered a key note address at the Indonesia Miner conference in Jakarta on the 11 ...
Thursday, 12 April 18
THE PERFECT STORM FOR THE BIG SHIPS - THE BALTIC BRIEFING
Capesize
The perfect storm for the big ships: with holidays, force majeure in two ore exporting ports and bad weather undermining the market. A l ...
Thursday, 12 April 18
SHIPPING CAN MANAGE US-CHINA TARIFFS, BUT RISKS RISING - FITCH
Container and, to some extent, dry bulk would probably be the shipping segments most affected by the recently announced US and China tariffs, Fitch ...
Thursday, 12 April 18
SUPRAS HAVE FIXED MID $11K FOR AN INDO RV TO S. CHINA DELIVERY PHILIPPINES - FEARNLEYS
Supramax
Slow week with little light for improving rates. ECSA to Far East still around $15k + bb and same to Med ca $14k, says Fearnleys in its ...
Thursday, 12 April 18
ALWAYS ACCESSIBLE
KNOWLEDGE TO ELEVATE
On 26 March 2018 Mr Justice Knowles determined that the berth warranty ‘always accessible’ must mean the vess ...
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Showing 1741 to 1745 news of total 6871 |
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- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
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