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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, 28 April 17
DELTA DUNIA RECORDED $24 MILLION NET PROFIT FOR FIRST QUARTER OF 2017; UP 700% Y/Y
COALspot.com: PT Delta Dunia Makmur Tbk. has announced its financial results for the first quarter of 2017 yesterday. According to the ...
Thursday, 27 April 17
PACIFIC IS SOFTENING WITH MORE TONNAGE OPENING AND LESS COAL ORDERS AROUND - FEARNLEYS
Supramax
Relatively slow week, with both basins showing signs of cooling down. Although grain cargoes out ECSA and ECCA on Ultras still delivered ...
Wednesday, 26 April 17
IRON ORE PRICES HAVE BEEN ON A ROLLERCOASTER RIDE OVER THE LAST MONTH - CHRISTOPHER WHITTY
Iron ore prices have been on a rollercoaster ride over the last month. Prices started the year on a very positive note, surging up to their highest ...
Tuesday, 25 April 17
FIONA POUNDS: VALID TENDER OF NOTICE OF READINESS
KNOWLEDGE TO ELEVATE
In the recent English High Court case of MV Arundel Castle1, the Judge ruled that a vessel, that could not immediately pr ...
Tuesday, 25 April 17
SHIPPING MARKET - ALLIED
Over the weekend we witnessed a second win over the rising populism that has become present in global politics since last summer, Allied shipping s ...
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- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
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