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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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Wednesday, 17 May 17
THE CHINESE IMPORTS ARE A BAROMETER FOR VESSEL UTILIZATION - INTERMODAL
According to economic data, China imports increased year-on-year 38% in February, 20% in March – which is approximately US$160-170b - w ...
Monday, 15 May 17
THE PORT OF NEWCASTLE HAS SHIPPED 0.99 PERCENT LESS COAL IN APRIL 2017
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export ports has shipped $AU 1,636.2 ...
Monday, 15 May 17
THE CAPESIZE INDEX ROSE SIGNIFICANTLY THIS PAST WEEK COMPARED TO PREVIOUS WEEK
COALspot.com: The Freight market slightly up this past week, as BDI and Cape shows a positive trend week over week.
The Baltic Exchange, track ...
Friday, 12 May 17
U.S. COAL PRODUCTION DOWN AGAIN WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.3 million short tons ...
Friday, 12 May 17
SLOW AND UNEVENTFUL WEEK FOR THE PANAMAX MARKET
Supramax
In the Atlantic, only USG were showing some improvement, where pet-coke cargoes to India was fixed in the range of 19-23k daily and to C ...
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Showing 2046 to 2050 news of total 6871 |
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- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- The University of Queensland
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Australian Coal Association
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
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