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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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Wednesday, 23 August 17
THE STRONG IRON ORE TRADE ROUTES SUPPORT CAPESIZE SEGMENT - INTERMODAL
The upward trend in the Capesize segment is definitely being supported by the strong momentum in the key iron ore trade routes. The price of high-q ...
Tuesday, 22 August 17
WHAT IS A RELEASE CALL?
KNOWLEDGE TO ELEVATE
Joining a mutual P&I Club means each Member shares in the fortunes of that Club and its membership. The continuity of ...
Tuesday, 22 August 17
THOSE DOG DAYS OF SUMMER STEEL PRODUCTION IN CHINA - COMMODORE
COALspot.com: One popular but inaccurate narrative that makes the rounds every June and July (and occurred again this year) is that China’s s ...
Monday, 21 August 17
BANPU REVEALS FIRST HALF 2017 WITH STRONG RESULTS; SUPPORTED BY HIGHER COAL PRICES
Banpu Reveals First Half 2017 with Strong Results from Higher Coal Prices Gearing Up to the Era of New Energy with Banpu Greener & Smarter Stra ...
Monday, 21 August 17
INDIA'S COAL IMPORTS DECLINE TO 192 MT IN FY17 - PTI
Import of coal saw a decline of 6.37 per cent to 191.95 million tonnes (MT) in 2016-17 on higher production by CIL that saw the country move to a r ...
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Showing 1961 to 1965 news of total 6871 |
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- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Parliament of New Zealand
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Australian Coal Association
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Planning Commission, India
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
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