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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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Thursday, 02 March 17
ULTRAMAX: INDONESIA TO INDIA COAL ROUNDS IS BEING FIXED AT AROUND MID 11K BSS SINGAPORE DELIVERY - FEARNLEYS
Supramax
Holiday mode within Atlantic i.e. very few movements but rates remained still positive, mostly in the USG region where tight tonnage sup ...
Wednesday, 01 March 17
2017 IS LOOKING LIKE IT WILL BE A GOOD YEAR FOR A NUMBER OF COMMODITIES - LINOS KOGEVINAS
2017 is looking like it will be a good year for a number of commodities. Following the price recovery witnessed in 2016 across a number of commodit ...
Tuesday, 28 February 17
PORT OF NEWCASTLE SHIPPED 17.39% LESS COAL IN JANUARY; TRADE VALUE UP 11.87% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,625.6 M ...
Monday, 27 February 17
THE FREIGHT MARKET WAS FIRMED UP THIS PAST WEEK; BCI ROSE 57.64% W/W
COALspot.com: The Freight market was firmed up this past week.
The Baltic Exchange, tracking rates for ships carrying dry bulk commod ...
Friday, 24 February 17
RUSSIAN OIL AND GAS WITHSTANDS OIL PRICE SHOCK - FITCH RATINGS
Fitch Ratings says in a new report that the Russian oil and gas sector has withstood the oil price stock of 1H16. Key events of 2016 include record ...
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- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Bhatia International Limited - India
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- The University of Queensland
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
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