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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, 30 March 18
SHIPPING INDUSTRY CONFIDENCE HITS FOUR-YEAR HIGH - MOORE STEPHENS
Shipping Confidence Survey
In February 2018, the average confidence level expressed by respondents was up from 6.2 in November 2017 t ...
Friday, 30 March 18
EXPLAINING POLAND'S COAL PARADOX - FORBES
In the U.S. coal is succumbing to market forces despite the Trump Administration’s push to support the industry. Abundant, cheap and cleaner ...
Friday, 30 March 18
THIESS SECURES $140M MT OWEN INCREASE
Thiess has secured a A$140 million increase to its contract with Glencore for coal mining services at Mt Owen in the Hunter Valley, Australia. Mt O ...
Wednesday, 28 March 18
THIESS WINS $280M WAHANA EXTENSION
Thiess has been awarded a three-year $280 million contract extension at the Wahana coal mine in South Kalimantan, Indonesia.
According to Thie ...
Wednesday, 28 March 18
RIO TINTO TO SELL KESTREL MINE FOR $2.25 BILLION - REUTERS
Rio Tinto sold its remaining coal asset Kestrel in Australia to private equity manager EMR Capital and Indonesia’s Adaro Energy Tbk for $2.25 ...
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Showing 1756 to 1760 news of total 6871 |
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- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- White Energy Company Limited
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
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