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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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Monday, 24 April 17
THE FREIGHT MARKET WAS DOWN WEEK OVER WEEK EXCEPT FOR HANDYSIZE SEGMENT
COALspot.com: The Freight market was fell, week over a week as all segments show a negative downward trend except Handy Size segment this past week ...
Friday, 21 April 17
US WEEKLY COAL OUTPUT ON THE UP, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
Thursday, 20 April 17
SHIPPING POOLS: DON'T JUST DIVE IN - MOORE STEPHENS
Shipping pools can be an attractive option for ship owners and operators, particularly in difficult markets and during periods of economic uncertai ...
Thursday, 20 April 17
THE DRY BULK MARKET IS STILL ON ITS UPWARD MOMENTUM - ALLIED SHIPPING
Having gone through the first quarter of the year and with the Easter break having no come and gone, it seems as though the dry bulk market is stil ...
Thursday, 20 April 17
CHINA'S IMPORT OF IRON ORE TO PROPEL DRY BULK SHIPPING DEMAND IN 2017 - PETER SAND
China's import of iron ore will continue to be a key driver for the demand growth in 2017 for the dry bulk shipping industry, alongside shippin ...
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- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- London Commodity Brokers - England
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- The University of Queensland
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
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