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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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Tuesday, 04 September 18
SUPRAMAX: THE ASIAN SECTOR REMAINED ACTIVE WITH RATES STILL FIRM ESPECIALLY IN SE ASIA - BALTIC BRIEFING
Capesize
A turnaround in fortunes for the big ships, with a few slower days in the market. A build-up of tonnage and a lack of Brazil cargoes r ...
Thursday, 30 August 18
SUPRAMAX: CIS COAL TO FAR EAST WENT AT MID TENS AND TO SE ASIA AT CA USD 8000 - FEARNLEYS
Capesize
There was a slow start this week with holiday in UK on Monday. The index has been slowly coming off since then; The C5 route has seen ...
Wednesday, 29 August 18
MID-YEAR FY19 POWER OUTLOOK: IMPORTED COAL REQUIREMENT TO INCREASE DURING REMAINING FY19: IND-RA
India Ratings and Research (Ind-Ra) has maintained a stable-to-negative outlook on the Indian power sector for the remaining FY19, despite a rise i ...
Wednesday, 29 August 18
IMPACT ON CHARTERPARTIES - TIME TO ACT NOW : NORTH P&I CLUB
KNOWLEDGE TO ELEVATE
The challenges introduced by the global sulphur cap are not exclusively technical. The new limits are likely to impact co ...
Tuesday, 28 August 18
COURT CONCLUDES DELIVERY MADE IN ACCORDANCE WITH TERMS OF LOIS - INCE&CO
Glencore Agriculture BV v Navig8 Chemicals Pool Inc (Songa Winds) [2018] EWCA 1901 (Civ)
In this case, the Commercial Court fo ...
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Showing 1631 to 1635 news of total 6871 |
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- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- PTC India Limited - India
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Minerals Council of Australia
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