Marine Link
Tuesday, January 23, 2018

Steel Products News

U.S. Tariffs on Steel Imports Impacts Rautaruukki

Steel exports to the USA accounted for just over 2.5 per cent of Rautaruukki's turnover in 2001. The Group supplied a total of some 4.7 million tonnes of steel last year, and just over 80,000 tonnes of this went to the USA. The US decision to impose tariffs on steel imports will not therefore have a major direct impact on Rautaruukki's business operations. Rautaruukki has alternative plans for sales to compensate for the exports to the USA. It is thought that the impact of the US decision to impose import tariffs, which was widely anticipated by the steel markets, has already been passed on to steel prices, which are low, at the end of 2001 and the start of this year. For that reason the US decision is not expected to have any major impact on product prices in Europe.

POSCO to Reset Steel Prices

POSCO is rearranging its steel prices in response to fluctuating international prices and domestic demand. On May 1, the steel producer will lift prices of mini-mill products, stainless steel and cut steel plate prices. In a statement, the company said prices for mini-mill hot-rolled coil will rise by $21 per ton to $501 in the domestic market due to falling inventory levels but prices for steel plate and steel plates for shipbuilding will fall by $31 per ton to $661 and $623, respectively. Its move is affected by recent price cuts by Japanese steel makers. For orders made from May 3, the prices of 300 series hot-rolled and cold-rolled products will each rise by $213 to $2,581 and $2,869 per ton, it said.

S Korean Shipbuilders Ask Posco to Raise Output

According to a report from The Wall Street Journal, South Korean shipbuilders have asked Posco to increase production of shipbuilding plates as a hedge against a possible shortage of materials from Japan. Domestic shipbuilders along with cold-rolled steel companies last week asked Posco to produce a combined 600,000 metric tons steel products for "possible emergency needs" in the coming months, a Posco spokesman said.   (Source: The Wall Street Journal)

Langh Ship and MacGREGOR Give Presentation

Boxship 2003 focused on operating, designing and securing containerships. Among the invited lecturers were Hans Langh, CEO of Oy Langh Ship Ab, and Kim Olin, naval architect from MacGREGOR (FIN) Oy, who gave a presentation on innovative transport solutions for steel products. Developed and patented by Langh Ship, these transport solutions for the steel industry are marketed and sold together with the company’s close and long-standing partner, MacGREGOR (FIN) Oy. “We really appreciate this opportunity to present Langh Ship Cargo Solutions to the delegates of this international conference, as well as the feedback that we have received” Hans Langh and Kim Olin say.

Large Shipbuilders Keep Profits Despite Steel Price Hike

An analyst from CITIC Securities Co., Ltd., said that the prices of steel products for shipbuilding would not increase as much as others, thanks to the long term partnership between shipbuilders and steel producers. Baosteel, a flagship in China's iron and steel industry, is a shareholder of China State Shipbuilding Corporation, and the two parties have co-invested in a leading shipbuilding base in China, Gao noted. Although China's steel enterprises have not yet released the growth rate of steel prices for the shipbuilding industry, Gao remained positive on the development of large shipbuilders. A researcher from China Shipbuilding Industrial Economy Research Center…

WTO Rules Against US Import Tariffs on China Steel, Solar Panels

World Trade Organization judges found on Monday that the United States had violated global trade rules by imposing import duties on a range of Chinese steel products and solar panels that Washington asserted had government subsidies. But the three-member panel also rejected some of the Chinese arguments against the U.S. countervailing duties in the $7.2 billion dispute brought in May 2012, which has echoes in Washington's trade relations with other countries. (Reporting by Robert Evans; editing by Stephanie Nebehay)

PCST Loads First Vessel from Port Canaveral

Port Canaveral Scrap Terminal loads the Grikos, its first vessel of export scrap from Canaveral. (Photo credit: Port Canaveral)

Port Canaveral Scrap Terminal LLC (PCST) has loaded about 20,000 tons of scrap metal aboard the Grikos to export to Turkey, where it will be used to create finished steel products. The terminal operator, currently employing 17 people with $1.8 million invested into the north cargo terminal, expects to export about 130,000 tons of scrap metal annually. Local stevedore Ambassador Services Inc. (ASI) handles loading operations for PCST.  

Langh Ship Recognized for Innovation

A steel transportation method developed by Oy Langh Ship Ab was awarded an honorable mention in the Finnish nationwide Productive Idea Competition. The award was presented at a banquet on Oct. 25, 2008 and received by Managing Director Hans Langh. Langh Ship’s newest products are the Cradle Cassettes that have been developed for transportation of big steel coils. The first series of the Cradle Cassettes began operating in traffic at the beginning of the year. They speed up cargo handling…

POSCO to Raise Steel Plate Prices

POSCO Co. Ltd., the world's fourth-largest steel maker, said it would raise the price of its steel plates for shipbuilding by 9.9 per cent, reflecting higher costs and strong demand, a Reuters report indicated. The South Korean steel maker will increase the price to $724.80 per tonne from $660, effective from October 25, the company said in a statement. Global prices of steel products, particularly for shipbuilding, have risen as shipbuilding yards have very strong order books in South Korea, China and Japan. Prices of raw materials such as iron ore, coal and scrap are also strong backed by brisk demand. POSCO, however, will maintain its prices of other key products, including hot-rolled and cold-rolled coil, in the fourth quarter. [Source: Reuters]

Korean Register and Dongkuk Implement Technology Exchange

The Korean Register – an IACS member class society - signed an MoU with global steel producer Dongkuk Steel. The agreement paves the way for the two organizations to cooperate on the exchange of strategic technology relevant to the construction of seagoing vessels and platforms. Specifically, the agreement defines mutual cooperation for developing and surveying rolled steel used in the building of ships and marine structures.  It covers new domestic projects such as natural gas carriers, technical information sharing on technology trends, information sharing on future demand for steel including from international and domestic ship yards, joint studies into the approval and development of new steel types and KR’s third-party surveying of Dongkuk Steel’s products. www.krs.co.kr  

China Appeals WTO Ruling on US Solar Panel Dispute

China has appealed against a WTO dispute panel report on anti-dumping duties applied on certain Chinese products by the United States, the World Trade Organization (WTO) said on Friday. The appeal covers products including solar panels, wind towers, thermal and coated paper, certain lawn trimmers, kitchen shelving, steel sinks and cylinders, line pipes and extrusions. WTO judges in the case ruled last month that the United States broke its rules in imposing hefty duties on Chinese steel products, solar panels and a range of other goods that Washington argues enjoyed government subsidies. It was not clear why China had appealed as the panel found that Washington had overstepped the mark in justifying the so-called countervailing duties in the $7.2 billion case.

Steel Handling Facility for London Thamesport

London Thamesport and the Armitt Group have signed an agreement for a purpose-built, 120,000 square feet specialist steel handling facility. Pictured at the signing are (l to r) Nicholas Marshall, Commercial Director Armitt, Clemence Cheng, Managing Director Hutchison Ports Europe (seated), Allan Seedhouse, Director Armitt, Charles Gray, Managing Director Armitt (seated), Mark Taylor, Director, Hutchison Logistics (UK) Photo  Hutchison Ports)

London Thamesport has signed an agreement with UK shipping agent and logistics company The Armitt Group for a purpose-built, 120,000 square feet specialist steel handling facility at the Kent port. Construction of the first phase of 60,000 square feet is well underway. Once completed, the specialist facility will offer unparalleled multimodal connections for breakbulk cargo handled in the South East of England. The facility will allow the Armitt Group and its customers to take advantage of London Thamesport's deep-water berths and excellent rail and road links to London…

Ships Queues Creep into Lagos ports

Lagos Port Complex (port of Lagos) by Nigerian Ports Authority

19 ships laden with petrol and other commodities are discharging at the Lagos ports, says Nigerian Ports Authority (NPA) in its daily publication `Shipping Position’. Three of the ships were laden with petrol, while the others had diesel, steel products, containers, bulk salt, bulk gypsum, fish, fertilizer, rice, general cargo and crude palm oil. No fewer than 36 ships loaded with various products are expected to arrive at the ports in Lagos from March 24 to April 17, the NPA said.

St. Lawrence Seaway Closed Until Spring

The St. Lawrence Seaway is officially closed to navigation until spring. The last vessel to pass through the Seaway was the chemical tanker Petrolia Desgagnes, which made its way through the St. Lambert lock near Montreal, Quebec, on Dec. 25. The seaway, which was open to navigation for 270 days starting March 31, maintained its maximum draft of 26 ft., 3 in. despite the low water levels in the Great Lakes. The Seaway's toll revenue and cargo tonnage was down this year because of reduced demand for inbound foreign steel, according to Seaway officials. Estimated combined cargo moved through the Welland Canal, between Lake Ontario and Lake Erie and the Montreal/Lake Ontario sections, totaled 47.56 million tons, down seven percent from a year ago.

St. Lawrence Seaway Closed Until Spring

The St. Lawrence Seaway is officially closed to navigation until spring. The last vessel to pass through the Seaway was the chemical tanker Petrolia Desgagnes, which made its way through the St. Lambert lock near Montreal, Quebec, on Dec. 25. The seaway, which was open to navigation for 270 days starting March 31, maintained its maximum draft of 26 ft., 3 in. despite the low water levels in the Great Lakes. The Seaway's toll revenue and cargo tonnage was down this year because of reduced demand for inbound foreign steel, according to Seaway officials. Estimated combined cargo moved through the Welland Canal, between Lake Ontario and Lake Erie and the Montreal/Lake Ontario sections, totaled 47.56 million tons, down seven percent from a year ago.

Ruukki Expands Range of Raex Wear-resistant Steels

Direct quenched Raex wear-resistant steel is made in a range of thicknesses from 2 mm to 80 mm. (Photo: Ruukki Metals Oy)

Ruukki can now supply steels for all applications requiring wear-resistant special steels. Ruukki Raex special steel can withstand wear and surface pressure and the range has now been expanded to include the thicker wear-resistant steels needed, for example, in the mining industry, Raex said. Raex special steel is made in a range of thicknesses from two-80 mm. The new thicker Raex wear-resistant steels up to 80 mm can be used, among other things, to manufacture parts for heavy machinery and equipment designed for excavation, loading, transporting and crushing ore in mines.

Star Bulk Carriers AGM Approves Directorships, Auditors

Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargoes, held its Annual Meeting of Shareholders in Singapore recently. 1.The re-election of Mr. Petros Pappas and Mr. Star Bulk is a global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bulk's vessels transport major bulks, which include iron ore, coal and grain and minor bulks such as bauxite, fertilizers and steel products. Star Bulk was incorporated in the Marshall Islands on December 13, 2006 and maintains executive offices in Athens, Greece. Its common stock trades on the Nasdaq Global Market under the symbol "SBLK". Currently, Star Bulk has an operating fleet of thirteen dry bulk carriers.

Star Bulk Raising Market Funds for Newbuildings

Star Bulk Carriers Corp. announce an underwritten public offering of common shares with the intention to use the net proceeds of the offering to partially fund the acquisition of nine identified newbuilding vessels, future vessel acquisitions and general corporate purposes, including working capital. The company also intends to grant the underwriters a 30-day option to purchase additional shares of common stock representing 15% of the offered shares. The common shares are being offered pursuant to the company’s effective shelf registration statement. Morgan Stanley is acting as the sole book-running manager for the offering. Star Bulk is a global shipping company providing worldwide seaborne transportation in the dry bulk sector.

Houston Barge Company Pleads Guilty

Western Towing Co. of Houston, Texas, pleaded guilty on May 16 to violating the Clean Water Act (CWA). Western Towing formerly operated a barge cleaning operation in Houston. Western Towing used river water to pressure-wash the cargo compartments of barges used to transport steel products, grain, gravel, sand, fertilizer and gypsum. The company had a CWA discharge permit which allowed it to discharge treated wastewater into the river, however the defendant did not treat the wastewater first. Discharging untreated barge cleaning wastewater into surface waters can harm fish and aquatic life and can make river waters unsuitable for recreational and drinking water usage. When sentenced, Western Towing faces a fine of up to $500,000 and/or up to five years probation.

Excel Maritime Announces Results

Excel Maritime Carriers Ltd. (NYSE: EXM) announced the results of the annual general meeting of its shareholders. At the meeting the following proposals were approved and adopted: the election of seven Directors of the Company; the appointment of Ernst & Young as the Company’s independent auditors for the fiscal year ending December 31, 2006; an amendment to the Company’s Articles of Incorporation as set forth in proposal one as described in the Proxy Statement for the Annual General Meeting. Excel Maritime Carriers Ltd. is an owner and operator of dry bulk carriers and a provider of worldwide seaborne transportation services for dry bulk cargoes, such as iron ore, coal and grains, as well as bauxite, fertilizers and steel products.

US Weighing Options on WTO Ruling

The United States is weighing its options after a World Trade Organization ruling on a Chinese challenge to anti-subsidy duties imposed on a range of steel products, solar panels and other goods, the office of the U.S. Trade Representative said on Monday. The WTO backed some of China's complaints, but also found it had failed to prove its case in other aspects of the challenge. "The WTO panel's decision to reject many of China's challenges to U.S. countervailing duties on unfairly subsidized Chinese imports is a victory for American businesses and workers," U.S. Trade Representative Michael Froman said. "With respect to the other findings in the panel report, the Administration is carefully evaluating its options, and will take all appropriate steps to ensure that U.S.

Detroit/Wayne County Port Authority Welcomes M/V Brunto

Wednesday, April 3, 2002, marks the official opening of the Port of Detroit's international shipping season. The Port of Detroit welcomed its first ocean-going vessel of the 2002 shipping season, the Norwegian vessel, M/V Brunto. It arrived at 7:00 a.m. at Nicholson Terminal & Dock Co. in River Rouge. The M/V Brunto set sail from Pasajes, Spain on March 15 with a cargo of steel products. The Norwegian flagged ship is 479 feet long with a 64 foot beam. Bergen, Norway is its home port.

Bulkship Owners, Baltic Trading, Make Public Stock Offering

Baltic Trading say they intend to use the net proceeds from the offering for future vessel acquisitions or as working capital and for general corporate purposes. Jefferies LLC and Morgan Stanley & Co. LLC are acting as joint book-running managers for the offering, and DVB Capital Markets LLC is acting as co-manager for the offering. Baltic Trading has filed a registration statement (including a prospectus and related preliminary prospectus supplement for the common stock offering) with the U.S. Securities and Exchange Commission for the offering to which this communication relates. Baltic Trading Limited is a drybulk company focused on the spot charter market. The companhy transports iron ore, coal, grain, steel products and other drybulk cargoes along global shipping routes.

Maritime Reporter Magazine Cover Dec 2017 - The Great Ships of 2017

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