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Wednesday, 13 September 17
SOME THOUGHTS ON NORTH KOREA, US & CHINA - THEODORE NTALAKOS
 The trade volume between North Korea and China is more than $5 billion per year. 83% of North Korea's exports end up in China; similarly, about 85% of the nation’s imports come from China. The rest of the trade is with countries like India, Russia, Pakistan, Thailand, and Mexico. Although Russia's trade with North Korea is marginal, total volume being less than $100 million, it should not be disregarded as Russia will not lose out on the opportunity to strengthen its own influence on North Korea as China's role diminishes. So, it was important for the USA to convince both China and Russia to agree to the trade restrictions in order to put pressure on North Korea.
From a Chinese perspective, Russia is needed to be onboard as the country has seen its own political influence over North Korea weakening. So the possibility that Russia would benefit from the Chinese trade reduction would give Beijing second thoughts about how aggressive to be on their pressure to Pyongyang. Although China has slashed coal imports from North Korea, the overall trade has risen in the first half of 2017 mostly from textile exports, in order to compensate and not lose out on total trade volumes. Now, the new sanctions approved by the U.N. Security Council target imports of refined oil products and textile exports. According to data from Bloomberg, the new measures would cut North Korean exports by 90%. This puts pressure on China but it also assures that Russia will be unable to exploit the situation to pursue its own economic or geopolitical visions.
The power-game around the Korean peninsula is huge, some analysts even warn that amidst the threats between the United States and North Korea and the ongoing nuclear missile tests, there is a risk of dragging the US into a war with China. China will not tolerate a unified Korea under the US influence or control. They did not put up with that in 1950, when Kim Jong Un's grandfather led an attack into South Korean and when the country had a fraction of the power it has now, so it is not probable that they will tolerate it now that they are a super power. So while the U.S. may have the means to destroy the N. Korean regime either by a full-scale military attack or only by targeting its people, the question “what about China?” has not been addressed yet. On the other hand, China also needs to make sure that it doesn't give out too much, as this would send the wrong message to the U.S.
Confused yet? It looks like a diplomatic labyrinth but there is no other way than through diplomatic talks to prevent the situation from worsening but also to de-escalate the tension and the war talks. We can only hope that the dark scenarios remain just discussions between analysts and academics. Otherwise, the effects will be catastrophic with a lot of human suffering.
As far as our shipping industry is concerned, China has been importing annually about $1 billion worth of mineral products from N. Korea. So, when back in February Beijing decided to ban all imports of North Korean coal, we can only assume that these imports should come from other sources increasing the ton-mile and giving its incremental contribution to the recovery of the shipping indexes. This combined with other economic policy from China on iron ore and coal imports, the better than expected data on world trade growth for 2017 and the improving order-book to trading fleet ratio has put the long-awaited recovery on the horizon.
By Theodore Ntalakos
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
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, 31 October 17
BALTIC DRY INDEX TAKES A BREAK FROM ITS UPWARD RALLY COURSE - GEORGE LAZARIDIS
It has been a week of corrections for the dry bulk freight market as it seems as the general Baltic Dry Index takes a break from its upward rally c ...
Friday, 27 October 17
U.S WEEKLY COAL PRODUCTION FLAT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.9 million short tons ...
Thursday, 26 October 17
CYBER COVER FOR E-BILLS - PHILIP STEPHENSON
KNOWLEDGE TO ELEVATE
Increasingly popular electronic bills of lading are, by their nature, susceptible to the risk of cyber attack. Here, Stan ...
Thursday, 26 October 17
INDO TO CHINA ROUNDS SUPRAS ACHIEVING AROUND HIGH $14000 - FEARNLEYS
Supramax
By mid-week the market has been relatively quiet in the Pacific basin as well, but still some healthy rates being achieved on the differ ...
Thursday, 26 October 17
STRONG SIGNAL FOR AUSTRALIAN COAL DEMAND - GREG EVANS
The International Energy Agency’s Southeast Asia Energy Outlook report, released today, presents a positive outlook for Australian coal produ ...
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Showing 1901 to 1905 news of total 6871 |
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- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- White Energy Company Limited
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
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