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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, 24 March 17
U.S COAL PRODUCTION ESTIMATE DECLINE 4.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.1 million short tons ...
Thursday, 23 March 17
CAPESIZE: TAKING A BREATHER AFTER RALLYING - BUT OUTLOOK FOR WEEKS TO COME NOT SCARY - FEARNLEYS
Supramax
In the Pacific the market seems somewhat slower this week, although healthy rates still being achieved said Fearnleys in its latest week ...
Thursday, 23 March 17
KOREA MIDLAND POWER COMPANY LIMITED INVITES BIDS FOR TOTAL 4.77 MILLION TONS OF BITUMINOUS COAL FOR ITS BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 2,090,000 Metric Tons of Bituminous coal f ...
Wednesday, 22 March 17
THE DRY BULK MARKET HAS UNDOUBTEDLY REBOUNDED SINCE THE SAME PERIOD LAST YEAR - KONSTANTINOS KONTOMICHIS
The Dry Bulk market has undoubtedly rebounded since the same period last year and currently enjoys healthier freight rates. The positive reversal i ...
Tuesday, 21 March 17
DESPITE THE CHALLENGING MARKET SITUATION IN 2016 THE DELTA DUNIA MAKMUR HAS ACHIEVED A NET PROFIT OF US$37 MILLION
COALspot.com: PT Delta Dunia Makmur Tbk. has announced its financial results for the period ended December 31, 2016.
Despite challenging marke ...
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- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Central Electricity Authority - India
- SMC Global Power, Philippines
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Planning Commission, India
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
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