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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, 02 August 18
INDO / CHINA COAL RV'S IS PAYING AROUND USD 11,000 TO SUPRAS BSS DELIVERY SINGAPORE - FEARNLEYS
Capesize
The counter seasonally strong market during the summer months bodes well for the remainder of the year.
According ...
Wednesday, 01 August 18
JOKOWI CANCELS PLAN TO REVOKE COAL DMO - JP
President Joko "Jokowi" Widodo on Tuesday has canceled the government’s plan to revoke the domestic market obligation (DMO) for coa ...
Wednesday, 01 August 18
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
The dry bulk market activity over the past four weeks has remained stable when compared to the previous months. There are concerns with regards to ...
Tuesday, 31 July 18
INDONESIA UNLIKELY TO CHANGE COAL SUPPLY, PRICING RULES UNTIL 2019 - REUTERS
Indonesia is unlikely to change its rules on domestic coal supply and pricing until 2019, Coordinating Maritime Minister Luhut Pandjaitan said on M ...
Tuesday, 31 July 18
ENERGY MINISTRY REMAINS FIRM ON DMO POLICY FOR COAL - JP
The Energy and Mineral Resources Ministry has stressed that it will not cancel its policy on the domestic market obligation (DMO) for coal, as the ...
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- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- The University of Queensland
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- White Energy Company Limited
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
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