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Steel Trade News

16 Nov 2021

Baltic Dry Index Slides to Five-month Low

© evannovostro / Adobe Stock

The Baltic Exchange's dry bulk sea freight index on Tuesday declined to its lowest level since early June, weighed by lower demand for the larger capesize and panamax vessel segments.The overall index, which factors in rates for capesize, panamax and supramax vessels, fell 168 points, or 6.1%, to 2,591, its lowest level since June 9.The main index was down for a fourth straight session.The capesize index shed 369 points, or 9.8%, to a more than one-week low of 3,383.Average daily earnings for capesizes, which transport 150,000-tonne cargoes such as iron ore and coal, fell $3,054 to $28,059.Con

21 Nov 2019

Swiss Chide EU Over Steel Import Curbs

© Henry / Adobe Stock

Switzerland criticized on Thursday measures the European Union has adopted to curb steel imports amid a global trade spat, saying they harmed the Swiss steel industry.The European Commission last month revised safeguard measures introduced in July 2018 and decided to reduce the annual increase in quota volumes, the government said in a summary of talks on the status of a bilateral free trade deal. "These changes threaten to further restrict bilateral steel trade between Switzerland and the EU and harm the Swiss steel industry…

05 Jul 2018

Steel Trade: Thyssenkrupp Restructuring After Steel Deal

 Thyssenkrupp Chief Executive Heinrich Hiesinger. © thyssenkrupp AG

Thyssenkrupp Chief Executive Heinrich Hiesinger said he would restructure the German industrial conglomerate further after signing a long-awaited deal to merge its steel assets with those of India's Tata Steel.The steel merger, which will create Europe's second largest steel business with annual sales of 17 billion euros ($19.8 billion), was finally sealed last weekend after two years of at times difficult talks.Seeking to manage expectations before a strategy presentation to the supervisory board next week…

18 Apr 2017

Antwerp Port Gets off to the Strongest Start Ever

The port of Antwerp handled 54,324,303 tonnes of freight during the first three months of this year, 1.5% more than in the same period last year. The further growth is mainly due to container freight, which was up by 2% in terms of tonnage. In fact this has been the best first quarter ever, both for total overseas freight and for containers. And on top of all that the previous month was the best for containers that has ever been recorded in the port of Antwerp. All this means that after the record year of 2016 the port of Antwerp is off to a good start. “The Port Authority is very satisfied with these growth figures,” declared CEO Jacques Vandermeiren.

27 Aug 2013

Frank Armitt & Son Announces Online Stock Reporting System

Runcorn based shipping agent Frank Armitt & Son announced the launch of their new website which provides the North West Steel Trade with an innovative steel freight management system. The new online reporting system offers suppliers and companies in the steel industry the ability to manage their imported materials online using Armitt’s Steel Management Portal which is accessible through their new website. Customers can log in to the portal at their convenience to monitor the warehousing and delivery status of their imports.

12 Apr 2010

Port of Indiana 40th Shipping Season

The Port of Indiana-Burns Harbor opens its 40th shipping season on April 9 with the arrival of the first international vessel – the Iryda. For 40 years, this Great Lakes port has provided an international connection for local businesses to reach world markets. The first ship signifies the start of the shipping season, the arrival of vital materials for local business and the start of another work season for longshoremen, crane operators, truckers and businesses that depend on the port. The Iryda was built in 1999 in Chiba, Japan, located on Tokyo Bay. It brings roughly 9,000 tons of steel coils to the port from Ijmuiden, Holland. The ship made a stop in Cleveland on its way to Burns Harbor…

11 Jun 2007

Ship Loading Indiana Steel For Export to Spain

About 11,000 tons of Indiana-made steel will set sail for Spain. The Julietta arrived at the Port of Indiana-Burns Harbor and was being loaded with hot-rolled steel coils from Mittal Steel in East Chicago, Ind. This is the first export shipment of steel through the Port of Indiana since 2005. There were a few export steel shipments between 2003 and 2005 – just over 55,000 tons total. In 1995, the port handled an all-time high 243,000 tons of exported steel. The shipment is destined for Pasajes, Spain. Federal Marine Terminals, which serves as the port’s general cargo stevedore, will load the vessel today and tomorrow. Since the Port of Indiana also has year-round access to the inland river system…

27 Feb 2007

Ports of Indiana Handled $1.89b cargo in 2006

Steel shipments helped the Ports of Indiana set a new record of $1.89b of cargo handled in 2006. This was a 23-percent increase from 2005, which had been the previous 36-year high. Steel accounted for $955 million of the 2006 shipments, a 45 percent increase from the previous year. The Ports of Indiana surpassed $1 billion in cargo shipments for the third consecutive year – the only three years this has been accomplished since Indiana’s first port opened in 1970. All three of Indiana’s ports on Lake Michigan and the Ohio River set individual records for total shipments in 2006 – Mount Vernon: $482 million (+20%), Jeffersonville: $588 million (+30%) and Burns Harbor/Portage: $820 million (+21%).

06 Jul 2006

Germanischer Lloyd Opens Testing Laboratory

The examination of metallic materials and failure analysis for the sectors of ship operation systems, civil engineering, plant technology and machinery will now also be offered in Hamburg by GLP, the testing laboratory of Germanischer Lloyd. To complement the branches in Mülheim, Herne and Stuttgart, the operating area of materials testing and failure analysis is being expanded into the North German region. The service spectrum of routine materials testing includes destructive and non-destructive tests, metallography, corrosion examinations, chemical analyses as well as investigations employing light-optical and scanning electron microscopy.

03 Jul 2006

Germanischer Lloyd Opens Lab in Hamburg

The examination of metallic materials and failure analysis for the sectors of ship operation systems, civil engineering, plant technology and machinery will now also be offered in Hamburg by GLP, the testing laboratory of Germanischer Lloyd. To complement the branches in Mülheim, Herne and Stuttgart, the operating area of materials testing and failure analysis is being expanded into the North German region. The service spectrum of routine materials testing includes destructive and non-destructive tests, metallography, corrosion examinations, chemical analyses as well as investigations employing light-optical and scanning electron microscopy.

07 Feb 2003

Bethlehem Agrees in Principle to Sell Most Assets to ISG

Bankrupt Bethlehem Steel Corporation has reached an agreement in principle with International Steel Group (ISG) for the sale of substantially all of Bethlehem's assets. The agreement is subject to the approval of Bethlehem's board, the completion of an asset purchase agreement, the approval of the bankruptcy court having jurisdiction of Bethlehem's chapter 11 case and the satisfaction of certain conditions to closing, including required governmental approvals and other consents, and the resolution of certain claims by the Pension Benefit Guaranty Corporation. The terms of the sale, which are under review by the board, will be considered in a special meeting of Bethlehem's board this Saturday, February 8.