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Wednesday, 05 July 17
TROUBLE SEEMS TO BE LOOMING ONCE MORE IN THE STEEL INDUSTRY - GEORGE LAZARIDIS
 Trouble seems to be looming once more in the steel industry as US President Trump puts forth his plans for specialist protectionist measures for the badly weathered US steel industry.
According to George Lazaridis Head of Market Research & Asset Valuations of Allied shipping, this latest push has been based on a Cold War-era trade law that would allow him to restrict imports of any goods or in this case commodity, which is deemed to be critical to national defense. As far back as April, the new administration took steps to launch a special investigation into steel imports so as to ascertain whether under the 1962 law conditions were met to justify a limit to imports under the pretense of a threat to the country ’s security.
The Allied weekly report further noted that, with this backing, it looks as though the Trump administration is now set on course to impose such quotas and tariffs and to make matter worse it could in effect cherry pick particular exporters and in effect freeze any further imports from those locations of origin. As expected this came under a “fire barrage” at the World Trade Organization on Friday, with some of the most prominent countries to be affected, namely China, the European Union, Brazil, Australia, Taiwan, and Russia, raising serious concerns.
George Lazaridis further said in its report, It seems as though we are now in the midst of a potential trade war, as countries take steps to retaliate in the case that the proposed protectionist measure is implemented. At the same time, it will be one of the biggest tests for the global trade referee, namely the World Trade Organization, which will face a difficult choice with either siding bringing with it potential fallout.
According to him, a ruling against the US could be a huge blow to the WTO’s credibility and power if the US were to choose to ignore the decision, while siding with the US would open the door for all WTO members to invoke similar reasoning behind the choice to bring forth taxes and quotes as they please. The potential fallout would not be just limited to the WTO, with the US likely to do more harm than good to its own economy, as other countries take on options to impose their own trade restrictions on steel imports or to retaliate against the US in other ways. What’s more is that this could not have unraveled at the worst time, as iron ore had been managing to show a glimpse of a recovery rally in its price up from its low of US$ 54 in mid-June to a recent high of US$ 64.3 on Thursday. This has also been evident from the recent pick-up in trade activity, with Cape size freight rates having shown positive movements in the second half of June (with the only exception being the final days of the month were a small downward correction started to show face).
The difficulties being faced in the global trade of steel and iron ore, however, go way beyond this most recent episode. The market has been plagued by a glut in supply for several years now and in part, China has played a major role in this. In fact, this recent decision by the US to find a way to pass such trade restrictions seemly to be mainly as a way to target China and its flow of cheap steel products. Given that the problem is still there, whether or not Trump manages to pass and impose his restrictions means that we are likely to face a downward correction in steel production and iron ore trade at some point, that is only if we were to suddenly see a spur in consumption that could in effect quickly absorbed most of the excess being produced. India could be such a success story with its need for large-scale industrial expansion, however even if we were to see such an Indian economic miracle, this would most likely be fueled by its own quickly expanding steel producing industry.
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Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
Friday, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
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- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- White Energy Company Limited
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Planning Commission, India
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
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