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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, 30 June 17
U.S. WEEKLY COAL OUTPUT SLIGHTLY DOWN
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.6 million short tonn ...
Wednesday, 28 June 17
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
From the beginning of the year until now SnP activity has changed significantly. To put things into perspective, after a fast and furious q1 on the ...
Monday, 26 June 17
PANAMAX/KAMARMAXES HAD A STRONG WEEK WITH RATES RISING IN MOST AREAS OF THE MARKET - BALTICEXCHANGE
Capesize
A dark cloud appeared to have descended over the market for the big ships with rates continuing to slide in all areas. There was a repor ...
Friday, 23 June 17
U.S. WEEKLY COAL PRODUCTION TOTALED APPROXIMATELY 15.8 MMST; UP 1.8% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.8 million short tonn ...
Wednesday, 21 June 17
MARKET INSIGHT - SHIPPING
Looking back at March and April shipping reports when the dry bulk indexes were starting to move up, a number of shipping analysts were stating tha ...
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Showing 2016 to 2020 news of total 6871 |
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- Australian Coal Association
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- The University of Queensland
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
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