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Wednesday, 22 August 18
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
 During the most quite week of the summer period we witnessed a trade war between United States and Turkey. A battle, which started with the arrest of an American pastor in Turkey. The effects of the trade war were immediate with U.S. President Tramp stating on twitter: I have just authorized a doubling of Tariffs on Steel and Aluminum with respect to Turkey as their currency, the Turkish Lira, slides rapidly downward against our very strong Dollar! Aluminum will now be 20% and Steel 50%. Our relations with Turkey are not good at this time.
This had as a consequence the fall of the Turkish Lira from 5.25 to a historical low against the U.S dollar. With the new sanctions Turkey’s President Recep Tayyip Erdogan reacted with boycotting American electronics and announced that Turkey will place a 140% tariff on U.S. alcohol, 120% on U.S. passenger vehicles and 60% on tobacco. Other products subject to new tariffs will include rice, nuts, cosmetics, uncoated paper and mechanical appliances. In addition, in order to boost its economy Turkey successfully secured a $15 billion investment from Qatar. The Qatari state announced that the money would go towards economic projects, investments and deposits.
The results of the trade war are immediate as MMK, one of Russia's largest steel producers, has postponed the launch of a lucrative project in Turkey due to the uncertainty that has been created amongst the counties. According to the news it is estimated that this investment is worth around $2 billion.
Focusing on the shipping industry, can this battle between the countries, affect the market in general? As we have already seen, a sector that is being affected from the trade war is Turkey’s demolition market. More specifically last week they were rumours that local cash buyers refused to offer for demo tonnage with the huge drop of Turkish Lira and local steel plate prices. Although there is not any official announcement that the market is closed, it is uncertain how the market will perform during the rest of the year. The possibility that many ship owners will change their decision to send their vessels for demo in Turkey is now big, while the said import tariffs could add extra pressure on the local market.
On the other open front between the U.S. and China expectations remain mixed. On one hand, positive news emerged last week in regards to the end of this trade war that pushed Asian market up, but following this news President Trump stated on an interview in Reuters that there is still "no timeframe" for such development.
All in all, 2018 is undoubtedly a good year so far for the shipping industry in most markets and everyone is expecting a strong Q4. But, as we all know to trade wars and politics greatly affect the shipping industry especially when we are referring to the strongest economies in the world. It therefore remains to be seen whether all of the above will push back the on-going recovery in a number of sectors or not.
By George Panagopoulos
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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Wednesday, 05 September 18
ASIAN DEMAND COULD CREATE DEFICIT IN GLOBAL LNG MARKET - FITCH RATINGS
Growing gas demand from Asia, particularly from China, could swing the liquefied natural gas (LNG) market into a deficit by 2022-2025, Fitch Rating ...
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 ...
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Showing 1631 to 1635 news of total 6871 |
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- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Australian Coal Association
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- The Treasury - Australian Government
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
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