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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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Monday, 02 April 18
THIESS SECURES $240M SATUI EXTENSION
The successful implementation of an innovative mining plan by Thiess at the Satui coal mine in South Kalimantan, has resulted in a $240 million con ...
Friday, 30 March 18
SHIPPING INDUSTRY CONFIDENCE HITS FOUR-YEAR HIGH - MOORE STEPHENS
Shipping Confidence Survey
In February 2018, the average confidence level expressed by respondents was up from 6.2 in November 2017 t ...
Friday, 30 March 18
EXPLAINING POLAND'S COAL PARADOX - FORBES
In the U.S. coal is succumbing to market forces despite the Trump Administration’s push to support the industry. Abundant, cheap and cleaner ...
Friday, 30 March 18
THIESS SECURES $140M MT OWEN INCREASE
Thiess has secured a A$140 million increase to its contract with Glencore for coal mining services at Mt Owen in the Hunter Valley, Australia. Mt O ...
Wednesday, 28 March 18
THIESS WINS $280M WAHANA EXTENSION
Thiess has been awarded a three-year $280 million contract extension at the Wahana coal mine in South Kalimantan, Indonesia.
According to Thie ...
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- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- White Energy Company Limited
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
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