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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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Thursday, 15 March 18
BHEL COMMISSIONS 600 MW THERMAL POWER PLANT FOR APGENCO IN ANDHRA PRADESH
Bharat Heavy Electricals Limited (BHEL) has successfully commissioned a 600 MW coal-based thermal power plant in the state of Andhra Pradesh.
...
Thursday, 15 March 18
SUEK GROUP SECURES $1.055BN 5-YEAR SYNDICATED PRE-EXPORT FINANCE FACILITY
SUEK Group signed a $1.055bn syndicated pre-export loan agreement. The facility with five years duration is secured against the Group’s expor ...
Wednesday, 14 March 18
COAL PRICES UP SAYS MINERALS COUNCIL - IAN KIRKWOOD,THE HERALD
NSW thermal coal exports were at near-record levels last year but prices were up, the Minerals Council of NSW has said after appraising annual stat ...
Wednesday, 14 March 18
NEW COAL PRICE FORMULA DOESN'T APPLY RETROACTIVELY: OFFICIAL - THE JAKARTA GLOBE
The Energy and Mineral Resources Ministry has decided to change the implementation period of the new discounted price formula for coal sold to the ...
Wednesday, 14 March 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
Interest in second hand tonnage remains firm with buyers in the dry bulk sector looking to benefit from rising freight rates that are eventually ex ...
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Showing 1771 to 1775 news of total 6871 |
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- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- PTC India Limited - India
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
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