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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, 28 August 18
SUPRAMAX: A COAL TRIP VIA INDONESIA PAID $13,500 ON A 56,000DWT TO WC INDIA - BALTIC BRIEFING
Capesize
The Singapore holiday mid-week disrupted trading and unsettled the market, with owners losing some resilience. The market took on a la ...
Tuesday, 28 August 18
SHIPPING MARKET UPDATE - GEORGE LAZARIDIS
As we edge close to the start of the Autumn Season, a period within the year that is usually characterized as the pivot point from the final quarte ...
Friday, 24 August 18
KOREAN RESTRICTIONS ON COAL SULPHUR IMPACTING HUNTER EXPORTS - THE HERALD
WARNINGS that Korean restrictions on sulphur levels in coal could hurt the Hunter industry appear to have been accurate, according to a report in t ...
Thursday, 23 August 18
RUSSIA'S MECHEL PRODUCED 9.69 MMT OF RUN-OF-MINE COAL IN 1H'2018
Mechel PAO, one of the leading Russian mining and metals companies, announces 1H2018 operational results.
Mechel PAO’s Chief E ...
Thursday, 23 August 18
SUPRAMAX: SOME FRESH COAL CARGOES APPEARED IN SE ASIA, GIVING A BIT PRESSURE ON RATES FOR END AUGUST SHIPMENTS - FEARNLEYS
Capesize
Slightly softer but generally very healthy for the big ships, with limited supply of early tonnage and positive Brazilian ore export v ...
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Showing 1636 to 1640 news of total 6871 |
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- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- VISA Power Limited - India
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Australian Coal Association
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- The University of Queensland
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
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