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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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Friday, 28 April 17
DELTA DUNIA RECORDED $24 MILLION NET PROFIT FOR FIRST QUARTER OF 2017; UP 700% Y/Y
COALspot.com: PT Delta Dunia Makmur Tbk. has announced its financial results for the first quarter of 2017 yesterday. According to the ...
Thursday, 27 April 17
PACIFIC IS SOFTENING WITH MORE TONNAGE OPENING AND LESS COAL ORDERS AROUND - FEARNLEYS
Supramax
Relatively slow week, with both basins showing signs of cooling down. Although grain cargoes out ECSA and ECCA on Ultras still delivered ...
Wednesday, 26 April 17
IRON ORE PRICES HAVE BEEN ON A ROLLERCOASTER RIDE OVER THE LAST MONTH - CHRISTOPHER WHITTY
Iron ore prices have been on a rollercoaster ride over the last month. Prices started the year on a very positive note, surging up to their highest ...
Tuesday, 25 April 17
FIONA POUNDS: VALID TENDER OF NOTICE OF READINESS
KNOWLEDGE TO ELEVATE
In the recent English High Court case of MV Arundel Castle1, the Judge ruled that a vessel, that could not immediately pr ...
Tuesday, 25 April 17
SHIPPING MARKET - ALLIED
Over the weekend we witnessed a second win over the rising populism that has become present in global politics since last summer, Allied shipping s ...
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- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- The University of Queensland
- VISA Power Limited - India
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
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