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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, 10 May 17
MARKET INSIGHT - INTERMODAL
Up until a few weeks ago, demo deals were being concluded at just a fraction below $400/ldt. Last time we saw demo prices around that level was in ...
Tuesday, 09 May 17
DRY BULK TRADE IS STILL HEAVILY RELIANT ON CHINA - GEORGE LAZARIDIS
We have seen an overall cool down in the dry bulk and tanker markets over the final two weeks of April, sparking worries amongst ship-owners that t ...
Monday, 08 May 17
INDONESIAN COAL PRICE REFERENCE RISES FOR SECOND STRAIGHT MONTH IN MAY
COALspot.com: Indonesian government declared coal benchmark price rose in May, government data showed.
The benchmark price of Indonesian therm ...
Monday, 08 May 17
OCEAN BULK CARGO RATES FALL FURTHER THIS PAST WEEK
COALspot.com: The Freight market continues to slump this past week, with all segments show a negative downward trend week over week.
The Balti ...
Monday, 08 May 17
US WEEKLY COAL OUTPUT ON THE DOWN - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.8 million short tons ...
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Showing 2051 to 2055 news of total 6871 |
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- Thiess Contractors Indonesia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Planning Commission, India
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- PTC India Limited - India
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- The University of Queensland
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
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