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Wednesday, 21 March 18
MARKET INSIGHT - CHRISTOPHER T. WHITTY
 President’s Trump administration proposed tariffs on steel and aluminum imports in an attempt to target China and Europe among others. Earlier this month President Donald Trump went ahead with the imposition of 25 percent tariffs on steel imports and 10 percent for aluminum but exempted after all, Canada and Mexico specifically. Details of the plan came from a briefing by administration officials ahead of Trump's speech. Other countries can apply for exemptions, according to the administration, although details of when they would be granted were not available. So at this time most believe it is still at a preliminary stage and perhaps just another move of the US on the world trade playing field.
President Trump has offered relief from steel and aluminum tariffs to countries that treat the US fairly on trade, a strategic move that is probably aimed at applying further pressure on Canada and Mexico regarding the potential new North American Free Trade Agreement (NAFTA). Of course separate talks are still ongoing between the States, Canada and Mexico on the NAFTA and there is still a lot of work on the table for the parties. Several major trading partners such as the European Union have said they will respond to the US tariffs with direct action. European Financial Affairs Commissioner Pierre Moscovici said if this goes ahead EU can easily respond with an “arsenal” of countermeasures that would include European tariffs on U.S. oranges, tobacco and bourbon for example. As Europe accounts for nearly 5 million tonnes of the 35 million tonnes of steel the U.S. imports every year, the bloc is hopeful that its members would be exempt ultimately from the tariffs, one way or another. If not, officials have said that they would consider asking the World Trade Organization to impose its own measures.
China, together with Japan, South Korea and India, accounted for 6.6 million tonnes of steel imports to the U.S.in 2017. Beijing, which until now had kept largely silent on the issue, sharpened its rhetoric significantly. Another important lever that China has, is U.S. agricultural exports and it has said in the past that it could target soybeans if needed to take action. "Especially given today's globalization, choosing a trade war is a mistaken prescription. The outcome will only be harmful," Foreign Minister Wang Yi said on the sidelines of an annual meeting of China's parliament. "China would have to make a justified and necessary response." China had a record $375.2 billion goods surplus with the United States last year. Because the US tariffs are being levied under a provision of US trade law that applies to national security, rather than dumping or import surges, it will be possible to exempt imports from military allies in NATO, as well as Japan and South Korea, focusing the tariffs on China and avoiding the risk of a broader trade war. The administration has not yet said that it will focus the tariffs in this way; but, given that they are being introduced with a phase-in period, during which trade partners may seek exemptions, such targeting seems to be the likeliest scenario.
By Christopher T. Whitty
Commercial Manager - Cotzias Intermodal Shipping
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Tuesday, 01 May 18
SUPRAMAX: COAL RUNS, A 61,000-DWT WAS FIXED BASIS DELIVERY SURABAYA, FOR A TRIP VIA INDONESIA, RE-DELIVERY INDIA AT $15,000 - BALTIC BRIEFING
Capesize
Rates eased in the East, as the week closed out with the momentum slowing. Levels on the key West Australia/China run dropped to $7.25 ...
Tuesday, 01 May 18
GLOBAL MINER PEABODY EYES SALES OPPORTUNITY IN INDIA’S RISING COAL IMPORTS - BUSINESS STANDARD
Indian imports of coal will continue to rise, reckons the world’s largest private sector coal miner Peabody Energy. Glenn Kellow, president a ...
Saturday, 28 April 18
STRONG ASIAN DEMAND CONTINUES TO HOLD UP THERMAL COAL MARKETS - REUTERS
Asian thermal coal demand is defying its typical seasonal slowdown as well as the expanding use of renewables and natural gas, with prices holding ...
Friday, 27 April 18
PEABODY ENERGY'S REVENUES FOR THE FIRST QUARTER ROSE 10 PERCENT OVER THE PRIOR YEAR TO $1.46 BILLION
Peabody Energy's revenues for the first quarter rose 10 percent over the prior year to $1.46 billion driven by improved seaborne coal pricing a ...
Thursday, 26 April 18
BALTIC EXCHANGE LAUNCHES ESCROW SERVICE FOR VESSEL SALES
The Baltic Exchange will be launching an Escrow Service for its members to hold deposits for ship sale transactions. The move will allow Baltic Exc ...
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- Deloitte Consulting - India
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Australian Coal Association
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
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