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Wednesday, 15 May 19
SHIPPING MARKET INSIGHT - THEODORE NTALAKOS
 Modern warfare - Trade wars & sanctions
As of May 1st, the U.S. has ended waivers to the sanctions that had allowed the top buyers of Iranian oil to continue their imports. China is the world's No1 oil importer and a major buyer of Iranian Oil. The May 1 deadline coincided with the US trade representatives traveling to Beijing and while in April Trump was tweeting that whilst there are still differences, the two sides are closer to a trade deal; the move of eliminating the waivers could be linked to the trade talks and most probably even served as an irritant between Beijing and Washington. Making China's energy imports challenging and subject to U.S. Jurisdiction is not something that can be easily digested and its timing is rather unusual, in one of the supposed final rounds of trade negotiations.
So, right when everybody thought that the trade war might be winding down, the trade frictions have suddenly worsened last week when Trump vented about China renegotiating agreed positions, and announced a 25% tariff on $200b worth of Chinese products. Additionally the US administration said it will impose 25% tariff on all remaining imports from China, $300b, or so.
China has retaliated by announcing that they will increase the tariffs on about $60b in U.S. exports, including hundreds of agricultural, mining, and manufactured products, threatening jobs and profits at companies in and around the United States. The Chinese tariffs of 25% will fall mostly on products that China has a surplus or self-reliance, such as steel, chemicals or textiles while goods that they don't produce will be taxed with 5%.
China depends on the U.S. mostly for high-end products, such as electronics, machinery, precision equipment, aircraft and parts, vehicles and parts, and oil and gas and the Chinese government looks like they have handpicked the goods where the tax will be increased to 25%. One U.S. industry that will be heavily affected is the LNG exports which will face a 25% tariff. LNG shipping firms have also seen their share prices dip. While China, who is already the second largest importer of LNG, will increase their LNG imports by 50% by 2025, the price will be the most decisive factors for the amount and origin of imports. This will only become more important with the startup of the gas pipeline between China and Russia. President Trump knows that and has pushed China to sign deals to import LNG.
The next few weeks will be critical. The worst case - no deal – scenario, or even if coming to an agreement gets anywhere close to 2020, will be a game changer. Tariffs on all trades between US and China plus other administrative actions will lead to a slowdown in investment, rising costs and business uncertainty that will probably lead in a recession in the US and given the weakness in the European economy, Europe would suffer as well with the negative effects spreading across other economies eventually.
On the other hand, negotiations have come a long way. President Trump and Chinese president Xi Jinping will attend the G20 meetings in Osaka at the end of June, so there is hope that the two sides will make amends by then. The challenges to a trade deal would probably grow if the two administrations can’t reach an agreement, so most probably things will get worse before they get better.
By Theodore Ntalakos
SnP Broker
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, 24 April 19
PANAMAX: IN THE EAST, THE MARKET MOVED SIDE-WAYS, WITH FEWER COAL CARGOES FROM INDONESIA PUTTING PRESSURE ON RATES - INTERMODAL
Sentiment in the Dry Bulk market slowly but steadily kept improving last week as Capesize rates remained in recovery mode and Panamax earnings also ...
Wednesday, 24 April 19
SHIPPING MARKET INSIGHT - IS THIS A BANKERS' MARKET? - INTERMODAL
Over the last 10 years, many of the traditional and top lending banks have made the decision to either downsize their portfolios or even exit shipp ...
Monday, 22 April 19
COAL INDIA TO ASK POWER PLANTS TO CUT COAL IMPORTS - DNA
Co to encourage import substitution with domestic supplies at power plants
Surge in coal imports has now forced Coal India Ltd (CIL) ...
Thursday, 18 April 19
BIMCO SEES HARD TIMES AHEAD FOR CAPESIZES
China’s increased use of scrap metal for its production of crude steel is fundamentally critical to the dry bulk shipping industry. Mostly Ca ...
Wednesday, 17 April 19
ONCE AGAIN WE FACED WITH THE SITUATION OF THE DRY BALTIC INDEX BEING BELOW 1,000 POINTS - INTERMODAL
Once again we are faced with the situation of the Dry Baltic Index being below 1,000 points. In a market where the feeling of insecurity is almost ...
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Showing 1411 to 1415 news of total 6871 |
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- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Sical Logistics Limited - India
- The University of Queensland
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Planning Commission, India
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Australian Coal Association
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
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