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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, 17 May 17
THE CHINESE IMPORTS ARE A BAROMETER FOR VESSEL UTILIZATION - INTERMODAL
According to economic data, China imports increased year-on-year 38% in February, 20% in March – which is approximately US$160-170b - w ...
Monday, 15 May 17
THE PORT OF NEWCASTLE HAS SHIPPED 0.99 PERCENT LESS COAL IN APRIL 2017
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export ports has shipped $AU 1,636.2 ...
Monday, 15 May 17
THE CAPESIZE INDEX ROSE SIGNIFICANTLY THIS PAST WEEK COMPARED TO PREVIOUS WEEK
COALspot.com: The Freight market slightly up this past week, as BDI and Cape shows a positive trend week over week.
The Baltic Exchange, track ...
Friday, 12 May 17
U.S. COAL PRODUCTION DOWN AGAIN WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.3 million short tons ...
Friday, 12 May 17
SLOW AND UNEVENTFUL WEEK FOR THE PANAMAX MARKET
Supramax
In the Atlantic, only USG were showing some improvement, where pet-coke cargoes to India was fixed in the range of 19-23k daily and to C ...
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Showing 2046 to 2050 news of total 6871 |
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- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
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