India May Appeal Parts of WTO Steel Ruling

Posted by Eric Haun
Tuesday, July 15, 2014

India said on Tuesday it may appeal against parts of a World Trade Organization ruling against countervailing U.S. duties on some of its steel exports, despite being partly vindicated in a trade dispute.

States impose countervailing duties, or punitively high import tariffs, when they suspect another country of gaining an unfair trade advantage through subsidies.

The WTO, ruling on the April 2012 case, said on Monday that the United States had acted wrongly in claiming some Indian subsidy programmes had given steelmakers such as Tata Steel an unfair advantage.

"Important issues have been in our favour but there are still some issues on which we are not happy," India Commerce Secretary Rajeev Kher told reporters. "There are several procedural issues which are in U.S. favour."

The global trade rules body called on Washington to bring its measures into conformity with WTO rules, specifically the agreement on subsidies and countervailing measures.

Removal of the duties would help steel makers in India, the world's fourth largest producer of the alloy, raise exports to the third-biggest producer as domestic demand has softened.

Indian companies such as Jindal Steel and Power and Steel Authority of India are targeting double-digit export growth this fiscal year, but are focusing mainly on the less mature markets of South America and Europe.

New Delhi called the decision "a major ruling in favour of India" but found fault with aspects of it, including the rejection of India's argument that state-run NMDC Ltd should not be considered as a public body.

The United States has long held the position that some companies in developing countries such as India unduly benefit from subsidies or other assistance provided by state-run firms, which in turn help them undercut U.S. companies.

"The ruling is appealable," the Indian government said in a statement. "A decision to appeal against the same is under active consideration."

The case involved a countervailing duty imposed by Washington because a portion of the iron ore used to produce steel pipe came from India's top iron ore miner NMDC, which supplies to steelmakers such as Tata Steel, Essar Steel and JSW Steel.

NMDC Finance Director Swaminathan Thiagarajan denied that the company sells at a discount.

"NMDC sells iron ore to its customers on a one-product-one- price basis," he told Reuters. "The price is fixed monthly after considering all market parameters."

(Reporting by Manoj Kumar and Krishna N. Das; Writing by Douglas Busvine; editing by Keiron Henderson)

Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Bulk Carrier Trends

Pacifica Rolls Out New Container Vessel

Pacifica Shipping, New Zealand's coastal shipping company, is launching a new container vessel from March replacing a smaller vessel whose charter has ended, reports The Stuff.

Shipping Pollution Will Skyrocket -Study

International freight volumes will grow fourfold by 2050 while the average length of haul will increase by 12 percent over that time, trends that will cause a spike

Puget Sound Container Volumes Flat in 2014

Container volumes through Puget Sound’s largest container ports remained flat in 2014, according to numbers released jointly for the first time by the ports of Seattle and Tacoma.

News

Ferus Smit to Launch Newbuild for Symphony Shipping

Ferus Smit announced it will launch Newbuuld 417 on Saturday, February 21 in Leer.   Newbuild 417, a multipurpose vessel to be christened Nordana Sky, is the

Australia Gives Landing Craft to the Philippines

The Australian Government will gift two recently-decommissioned Landing Craft Heavy vessels, including a package of spare parts, to the Philippines Government,

Reftrade Upgrades Fleet Refrigeration Systems

Reftrade UK  has made an investment  to upgrade its fleet with environmentally friendly technology. The world’s first refrigeration system to use CO2 as a natural refrigerant,

Government Update

Dozens Missing off Bangladesh after Boat Sinks

About 40 illegal migrants heading from Bangladesh to Malaysia to look for work were missing on Thursday after their boat sank, police said. A steady stream of

Shell: UK Should Reduce North Sea Oil Tax

The British government should review a supplementary tax charge on North Sea oil producers as it has made the operation of some fields unrealistic, Shell Chief

China Watching Greece After Port Sale Shelved

China is closely monitoring the policies of the new Greek government after Athens said this week it will stop the sale of a majority stake in Greece's biggest port,

Logistics

Stolt-Nielsen Q4 Profit Misses Forecast

Shipping firm Stolt-Nielsen reported fourth quarter earnings below forecasts on Thursday and said it was concerned about the outlook for the chemical tanker market,

China Watching Greece After Port Sale Shelved

China is closely monitoring the policies of the new Greek government after Athens said this week it will stop the sale of a majority stake in Greece's biggest port,

Shell Eyes Arctic Drilling this Summer

Oil major Shell wants to revive its Arctic oil drilling programme this year after a near two-year suspension, angering environmentalists who say the risk of an oil spill is too high.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Pod Propulsion Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2795 sec (4 req/sec)