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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, 15 March 17
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
Over the past two weeks, the Dry Baltic Index has been on an upward trend, breaking the 1000 point mark and creating a positive sentiment for the u ...
Tuesday, 14 March 17
ORDERBOOK-TO-FEET RATIO DECREASING; THE FREIGHT MARKET IMPROVING
It seems as though the renewed optimism that has arisen from the recent upward trends being noted in the freight market, the dry bulk market has be ...
Monday, 13 March 17
PORT OF NEWCASTLE HAS SHIPPED 11.563 MILLION TONS COAL IN FEBRUARY 2017; DECLINED 12.19 PERCENT M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export ports has shipped $AU 1,4 ...
Monday, 13 March 17
INDO - INDIA COAL FREIGHT RATES STAY FIRM
COALspot.com: The Freight market was continuing to firming up.
The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ros ...
Friday, 10 March 17
ESTIMATED U.S. COAL PRODUCTION ALMOST FLAT WEEK ENDED MARCH 4, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
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- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- White Energy Company Limited
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
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