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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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Thursday, 16 August 18
COAL PRODUCTION AT 37.11 PERCENT OF FULL-YEAR TARGET - THE JAKARTA POST
Indonesian coal production was recorded at 180 million tons on Wednesday, or 37.11 percent of the government’s 485 million target this year.
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Thursday, 16 August 18
OIL MARKET HIGHLIGHTS - OPEC
Crude Oil Price Movements
In July, the OPEC Reference Basket increased marginally by 5¢ m-o-m to settle at $73.27/b. Oil futures saw mixed ...
Tuesday, 14 August 18
THE CAPESIZE MARKET HAS SHOWN A TREMENDOUS COURSE DURING THE PAST 12 MONTHS - THOMAS CHASAPIS
The Capesize market has shown a tremendous course during the past 12 months, having quickly climbed out of the “hole that it had found itself ...
Monday, 13 August 18
A 50,200 DWT FIXED DELIVERY SINGAPORE TRIP VIA INDONESIA REDELIVERY CHINA IN THE LOW $10,000S - THE BALTIC BRIEFING
Capesize
Expectations of a further push in the market were largely unfulfilled last week as rates come under pressure in Asia as the North Atla ...
Friday, 10 August 18
U.S. COAL PRODUCTION TO DECLINE BY 1.8% IN 2019 BECAUSE COAL EXPORTS AND COAL CONSUMPTION ARE BOTH FORECAST TO DECREASE - EIA
EIA forecasts U.S. coal production will decline by 1.1% to 766 million short tons (MMst) in 2018 despite a 5.7% (6 MMst) increase in coal exports.
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Showing 1646 to 1650 news of total 6871 |
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- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Planning Commission, India
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Australian Coal Association
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
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