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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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Monday, 25 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE FOURTH WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.5 million short ton ...
Wednesday, 20 September 17
SHIPPING MARKET INSIGHT - INTERMODAL
An undoubtedly interesting market lately is the newbuilding market, in which we are witnessing numerous orders across all sectors and sizes. At the ...
Monday, 18 September 17
COAL PRICES WERE RELATIVELY UNCHANGED WEEK OVER WEEK - ANZ
COALspot.com: Coal prices were relatively unchanged, with most interest remaining in the thermal coal market said Daniel Hynes. However, falling st ...
Monday, 18 September 17
PROSPECTS ARE NOT SO CLEAR CUT FOR COAL - CLARKSONS
Prospects are not so clear-cut for coal. According to Clarksons, coal has been a key energy source since the Industrial Revolution and in 2016, ste ...
Friday, 15 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE THIRD WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
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Showing 1936 to 1940 news of total 6871 |
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- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Parliament of New Zealand
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- The University of Queensland
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- White Energy Company Limited
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
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