Steel Producers News

The United States has launched an investigation into alleged unfair practices within China's shipbuilding and maritime industries, drawing ire from Chinese officials.The probe was launched Wednesday by U.S. Trade Representative Katherine Tai in response to a petition filed by five national labor unions accusing China of using "non-market policies that are far more aggressive and interventionist than any other country" to obtain dominance over the global shipbuilding, maritime and logistics sector."The American commercial shipbuilding industry is a shell of its former self. . .

“Over the next ten years, from 2023 to 2032, more than 15,000 ships with deadweight capacity of more than 600 million tonnes are expected to be recycled, more than twice the amount recycled in the previous ten years,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO.As recycling volumes increase, it is increasingly important that the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships is ratified and implemented. The Convention was adopted in 2009 with the aim of reducing risks to human health…

Iron ore prices have suffered their worst week for nearly 18 months amid signs that the two factors needed for a sustained correction may be coming into play - Chinese steel producer discipline and a recovery in supply of ore.The main Chinese domestic iron ore benchmark, the Dalian Commodity Exchange contract, dropped around 10% in the week to July 23, the worst weekly performance since February last year.The contract ended the week at 1,126 yuan ($173.77) a tonne, and has now slid about 17% from its record high in May.Benchmark spot 62% iron ore for delivery to north China , as assessed by co

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, ticked up on Wednesday on gains in the capesize segment.The index, which factors in rates for capesize, panamax and supramax shipping vessels, added 5 points, or 0.2%, to 3,058.The capesize index rose 8 points, or 0.2%, to 3,513.Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes of iron ore, were up $64 at $29,135.The gains came even as benchmark…

China’s iron ore imports slipped 1.7% in October from a month earlier, but still hovered well above 100 million tonnes, official customs data showed on Saturday, propped up by firm demand at Chinese mills and shipments from major miners.The world’s top iron ore consumer imported 106.74 million tonnes of the steelmaking ingredient in October, 14.9% more than in October 2019, but still below the 108.55 million tonnes brought in during September, according to data from the General Administration of Customs.For the first 10 months of 2020…

China's iron ore imports in April rose 11.4% from a month earlier on robust demand from steelmakers, as downstream sectors started to emerge from lockdowns to contain the coronavirus epidemic.Arrivals of the steelmaking ingredient were 95.71 million tonnes last month, data released on Thursday by the General Administration of Customs showed.That compares with imports of 85.91 million tonnes in March and 80.77 million tonnes a year earlier, when shipments from Brazil's top miner Vale SA were disrupted after a tailings dam disaster.In the first four months of 2020…

The new study by the Department of Transportation Great Lakes - Saint Lawrence Seaway says that shipping  supports more than 237,000 jobs and billions in economic activity.A year-long study of the economic impacts of the entire Great Lakes-St. Lawrence Seaway navigation system is a definitive and detailed report documenting the many contributions made by the Great Lakes Seaway system to federal, state/provincial and local economies.The study reports that in 2017 maritime commerce supported: 237,868 jobs, $35 billion in economic activity, $14.2 billion in personal income and local consumption expenditures and $6.6 billion in federal, state/provincial and local tax revenue.The study also highlights the specific economic benefits of key navigation infrastructure, such as the St.

Hardness, corrosion resistance and impact strength are determinate factors in the lifecycle costs of wearing parts made of steel bar such as valve seats, bending guides and nozzles for abrasive liquids. The material's machinability, however, is just as relevant for quality and cost effectiveness. Ugitech now for the first time introduces to the market a stainless steel with outstanding values that meet all of these criteria. UGIMA 4116N is extremely hard thanks to the addition…

U.S. President Donald Trump announced on Thursday he would impose tariffs of 25 percent on imported steel and 10 percent on aluminum, in a move the administration said would protect U.S. industry, but which critics said would fail to boost jobs and risked stoking a trade war with China. Trump, speaking after a meeting with U.S. steel and aluminum makers said the duties would be formally announced next week. “We’re going to build our steel industry back and our aluminum industry back," he said. News of the tariffs drove the stocks of U.S.

U.S. President Donald Trump announced on Thursday he would impose tariffs of 25 percent on imported steel and 10 percent on aluminum, in a move the administration said would protect U.S. industry, but which critics said would fail to boost jobs and risked stoking a trade war with China. Trump, speaking after a meeting with U.S. steel and aluminum makers said the duties would be formally announced next week. “We’re going to build our steel industry back and our aluminum industry back," he said. News of the tariffs drove the stocks of U.S.

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose for the first time in seven sessions on Tuesday, following a rebound in capesize rates. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, edged up 13 points, or 1.2 percent, to 1,095 points. The capesize index snapped its five-session losing streak and climbed 86 points, or 6 percent, to 1,519 points. It touched its lowest in more than six months on Monday.

There are indications that China's appetite for imported coal may be starting to ease in line with Beijing's efforts to limit the use of the fuel over winter in a bid to lower air pollution. China's seaborne imports were 18.26 million tonnes in November, down from 20 million in October, according to vessel-tracking and port data compiled by Thomson Reuters Supply Chain and Commodity Forecasts. It's the fourth consecutive monthly decline for seaborne coal imports, according to the data, and it comes as the authorities impose productions cuts on coal-consuming industries such as steel. The vessel-tracking data doesn't align exactly with official customs data given it excludes coal that is imported by rail or road…

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, notched its biggest one-day percentage gain in five months on Thursday, buoyed by soaring demand for larger vessels. The index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 42 points, or 4 percent, at 1,092 points – the highest since April 28. "We are seeing a seasonal uptick ... This time of the year you basically see the rates improve," said Herman Hildan, analyst at Clarksons Platou Securities.

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, sank to a new record low for the sixth straight session on Tuesday. The overall index, gauging the cost of shipping dry bulk cargoes including iron ore, cement, grain, coal and fertilisers, fell 3.13 percent to 402 points. The index has fallen by about 14 percent so far this year. A downturn in dry bulk shipping amid a surplus of vessels has worsened in recent months as demand for iron ore and coal has declined due to slower economic growth in China. The capesize index shed 48 points, or 15.29 percent, sinking to its all-time low of 266 points. Average daily earnings for capesizes, that typically transport 150,000-tonne cargoes such as iron ore and coal, fell $333 to $3,261.

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, slid to a fifth consecutive record low on Monday on economic worries about China and a surplus of vessels. The overall index, gauging the cost of shipping dry bulk cargoes including iron ore, cement, grain, coal and fertilisers, fell 3.26 percent to 415 points. The index has fallen by more than 13 percent in 2016. A downturn in dry bulk shipping has worsened significantly in recent months as demand for iron ore and coal has declined in the response to slower economic growth in China. World stocks fell to near 2-1/2 year lows on Monday as a fresh pounding for Chinese markets left Asia at a four-year low and hit oil and commodity markets.

The Federal Bering bulk carrier called for the first time at the port of Antwerp on November 16. The recently built Federal Bering is in Antwerp for three days to load a consignment of 20,000 metric tons of steel for ArcelorMittal, ThyssenKrupp and other steel producers. In addition to this steel consignment it will also take on project cargo such as dryers, transformers etc. With a length of 200 meters and a capacity of 34,100 dwt the vessel represents a new generation of carriers for the Canadian shipping company Fednav. It will mainly be operated on the Great Lakes where Fednav is the market leader. Fednav has already ordered 16 of this new generation of lakers, the largest of their kind, all of them due for delivery between now and 2018.

The United States has approved anti-dumping duties against South Korea and other producers of steel pipes for the energy sector, a victory for domestic producers hoping to benefit from a boom in the U.S. shale oil and gas industry. U.S. steel companies lodged a complaint in 2013 as foreign manufacturers cashed in on soaring U.S. energy infrastructure demand. Imports doubled last year and accounted for nearly two-thirds of the domestic market, according to the American Iron and Steel Institute. Although subject to appeal, the decision puts the U.S. Department of Commerce closer to imposing tariffs as high as 118 percent on "oil country tubular goods" (OCTG).

U.S. ports post positive numbers. For the period March 22 to September 30, year-to-date total cargo shipments were 25.1 million metric tons, virtually flat over the same period in 2011, as reported by the St. Lawrence Seaway. “Cargo tonnage on the Seaway System remained relatively steady for the month of September,” said Rebecca Spruill, Director, Trade Development for the Saint Lawrence Seaway Development Corporation. “These tonnage numbers reflect historical trading patterns for the month of September, with the noteworthy increase in shipments of windmill components.

The St. Lawrence Seaway reported that year-to-date total cargo shipments for the period March 22 to June 30 were 13.2 million metric tons, up 1.3 percent over the same period in 2011. Iron ore and coal used in the steel and construction industries remained the dominant story in tonnage numbers along the St. Lawrence Seaway System. Iron ore shipments through the Seaway rose 34 percent to 1.4 million metric tons in June. Year-to-date figures for iron ore were up 27 percent to 3.8 million metric tons.

Great Lakes Shipping Industry Praises Deadline Extension. The New York State Department of Environmental Conservation (NYDEC) today modified its ballast water discharge permit and extended the deadline by which ship owners have to comply with state rules. Today's action effectively eliminates onerous ballast water treatment requirements through the end of 2013. The agency’s ballast water regulations are the most stringent in North America and have been the topic of considerable controversy. "New York's decision effectively eliminates the unworkable ballast water rules put in place during the Paterson Administration. We applaud Governor Cuomo for protecting jobs and supporting the thousands of Americans who make their living in the maritime industry…

U.S. ports continued to post positive tonnage numbers in October. The Seaway’s year-to-date total cargo shipments from March 22 to October 31 were 29 million metric tons, up 2 percent from the same period last year. “With just two months left in the 2011 navigation season, the Seaway is on track to meet its projected seven percent improvement over last year’s tonnage performance,” says Rebecca Spruill, Director of Trade Development for the Saint Lawrence Seaway Development Corporation.

Cargo shipments to ports on the Great Lakes and St. Lawrence Seaway navigation system generate $34.6 billion of economic activity and 227,000 jobs in Canada and the U.S., according to a new study released today. That breaks down to 98,000 jobs and $15.9 billion in economic activity in Ontario and Quebec. The study, which is the first to reveal the economic value of the entire bi-national Great Lakes-Seaway System and its more than 100 ports, was simultaneously unveiled today by the Canadian St. Lawrence Seaway Management Corporation in Ottawa and by U.S.

U.S. ports reported upticks in tonnage during the normal summer slowdown period. The Seaway’s year-to-date total cargo shipments from March 22 to August 31 were 22 million metric tons, up 3.5 percent from the same period last year. “In addition to the cargo shipments increase, vessel transits are up 9 percent from a year ago with the best performers in August being petroleum products, scrap metal and salt. This number shows that the marine trade, even in today’s tough economic times…