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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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Tuesday, 21 March 17
JAPAN'S RENEWED COMMITMENT TO COAL - BENJAMIN SPORTON
Japan is one of the largest economies in the world, and has long been a major consumer and importer of energy and a leader in energy technology dev ...
Monday, 20 March 17
IS THE DRY BULK INDUSTRY STILL ON TRACK FOR PROFITABILITY IN 2019? - PETER SAND
The industry remains well on target for profitable freight rates in 2019! This relies however, on the projected fleet supply growth rate of 0% in 2 ...
Friday, 17 March 17
U.S WEEKLY COAL OUTPUT VOLUME SLIDES 6.5 PERCENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.7 million short ton ...
Thursday, 16 March 17
CHINA IMPOSING TOUGHER CONTROLS ON LOW-QUALITY COAL IMPORTS
China is ramping up controls on imports of low-quality coal due to concerns about smog and overcapacity in the world’s top coal consumer, a g ...
Thursday, 16 March 17
CAPESIZE: SHOWING STRENGTH; PANAMAX: VERY QUIET - FEARNLEYS
Supramax
The Atlantic market faced less activity from the USG whereas at the Cont tonnage seemed to tighten up with more cargoes emerging. Despit ...
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- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Australian Coal Association
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
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