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Wednesday, 15 May 19
SHIPPING MARKET INSIGHT - THEODORE NTALAKOS
 Modern warfare - Trade wars & sanctions
As of May 1st, the U.S. has ended waivers to the sanctions that had allowed the top buyers of Iranian oil to continue their imports. China is the world's No1 oil importer and a major buyer of Iranian Oil. The May 1 deadline coincided with the US trade representatives traveling to Beijing and while in April Trump was tweeting that whilst there are still differences, the two sides are closer to a trade deal; the move of eliminating the waivers could be linked to the trade talks and most probably even served as an irritant between Beijing and Washington. Making China's energy imports challenging and subject to U.S. Jurisdiction is not something that can be easily digested and its timing is rather unusual, in one of the supposed final rounds of trade negotiations.
So, right when everybody thought that the trade war might be winding down, the trade frictions have suddenly worsened last week when Trump vented about China renegotiating agreed positions, and announced a 25% tariff on $200b worth of Chinese products. Additionally the US administration said it will impose 25% tariff on all remaining imports from China, $300b, or so.
China has retaliated by announcing that they will increase the tariffs on about $60b in U.S. exports, including hundreds of agricultural, mining, and manufactured products, threatening jobs and profits at companies in and around the United States. The Chinese tariffs of 25% will fall mostly on products that China has a surplus or self-reliance, such as steel, chemicals or textiles while goods that they don't produce will be taxed with 5%.
China depends on the U.S. mostly for high-end products, such as electronics, machinery, precision equipment, aircraft and parts, vehicles and parts, and oil and gas and the Chinese government looks like they have handpicked the goods where the tax will be increased to 25%. One U.S. industry that will be heavily affected is the LNG exports which will face a 25% tariff. LNG shipping firms have also seen their share prices dip. While China, who is already the second largest importer of LNG, will increase their LNG imports by 50% by 2025, the price will be the most decisive factors for the amount and origin of imports. This will only become more important with the startup of the gas pipeline between China and Russia. President Trump knows that and has pushed China to sign deals to import LNG.
The next few weeks will be critical. The worst case - no deal – scenario, or even if coming to an agreement gets anywhere close to 2020, will be a game changer. Tariffs on all trades between US and China plus other administrative actions will lead to a slowdown in investment, rising costs and business uncertainty that will probably lead in a recession in the US and given the weakness in the European economy, Europe would suffer as well with the negative effects spreading across other economies eventually.
On the other hand, negotiations have come a long way. President Trump and Chinese president Xi Jinping will attend the G20 meetings in Osaka at the end of June, so there is hope that the two sides will make amends by then. The challenges to a trade deal would probably grow if the two administrations can’t reach an agreement, so most probably things will get worse before they get better.
By Theodore Ntalakos
SnP Broker
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, 24 June 19
KOMIPO INVITED BITUMINOUS COAL BIDS FOR BORYEONG & SHIN BORYEONG POWER PLANTS
South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 260,000 MT MT of min. 5700 NAR coal and 240,000 MT of min. 4,600 k ...
Sunday, 23 June 19
SUPRAMAX: A 56,000-DWT WAS FIXED FROM INDONESIA TO VIETNAM AT $10,000 - BALTIC BRIEFING
Capesize
The story over the past week has been largely Atlantic dominated as the basin’s uniquely volatile characteristics came into play ...
Saturday, 22 June 19
OPEC'S BATTLE FOR CONTROL OF THE OIL MARKET - WOOD MACKENZIE
Oil supply is confounding expectations. We have just raised our forecasts for non-OPEC production, the latest in a series of incremental increases. ...
Friday, 21 June 19
INDONESIA'S BAYAN RESOURCES SIGNED A COAL SUPPLY AGREEMENT WITH THE BANGLADESH BCPCL TO SUPPLY 23 MILLION TONS OF COAL FOR 10 YEARS
On Monday, 17th June 2019, PT. Bayan Resources signed a Coal supply Agreement with the Bangladesh- China Power Company (Pvt.) Limited. BCPCL is a j ...
Thursday, 20 June 19
BUMI RESOURCES EXPECTS TO SELL 42 MILLION TONS OF COAL IN FIRST HALF - JAKARTA POST
PT Bumi Resources (BUMI), Indonesia's largest thermal coal miner, expects to close the first half of this year with coal sales of 42 million to ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Planning Commission, India
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- The University of Queensland
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