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Home  /  Forum  /  Arcelor Mittal  /  Nieuws en info hier plaatsen (deel 4)

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Aandeel ArcelorMittal AEX:MT.NL, LU1598757687

  • 21,800 17 jun 2024 15:51
  • -0,020 (-0,09%) Dagrange 21,480 - 21,910
  • 1.784.132 Gem. (3M) 2,7M

Nieuws en info hier plaatsen (deel 4)

35.173 Posts
Pagina: «« 1 ... 754 755 756 757 758 ... 1759 »» | Laatste | Omlaag ↓
  1. forum rang 10 voda 26 februari 2018 16:50
    Daar moet veel staal in zitten!

    China built longest sea bridge

    Sputnik reported that the state corporation China Communications Construction has built a bridge across the sea linking southern Guangdong province, China's main manufacturing hub, with Hong Kong and Macau. China has opened the world's longest sea bridge between Guangdong province, Hong Kong, and Macau. The length of the structure is 55 kilometers, of which 38 kilometers are sections of the bridge.

    For comparison, the length of the Crimean bridge is 19 km. The main part of the bridge is a 29.6 km of double three-lane carriageway that includes a 6.7 km underwater tunnel between two artificial islands and three raised sections above the water's surface.

    The project's cost is estimated at CNY 110 billion. Around 22% of the total costs were financed by the government, and the remaining 78% - a consortium of banks led by the Bank of China.

    Source : Sputnik
    Bijlage:
  2. forum rang 10 voda 26 februari 2018 19:45
    Trump wil staalsector nieuw leven inblazen

    Gepubliceerd op 26 feb 2018 om 19:24 | Views: 247

    ArcelorMittal 17:35
    28,55 +0,36 (+1,28%)

    N i e u w bericht vervangt: Staalproductie China loopt iets terug

    WASHINGTON (AFN/RTR) - De Amerikaanse president Donald Trump wil koste wat het kost de staalindustrie in zijn land nieuw leven inblazen, zelfs als hij daarvoor importtarieven aan andere landen moet opleggen. Dat zei hij bij een ontmoeting met enkele gouverneurs in het Witte Huis.

    ,,Ik wil de staalindustrie terugbrengen naar ons land. Als daar tarieven voor nodig zijn, dan zijn er maar tarieven voor nodig. Dat kost misschien wat meer, maar dan krijgen we wel banen", zei Trump.

    Het Amerikaanse ministerie van handel heeft Trump geadviseerd maatregelen te nemen tegen goedkoop staal en aluminium uit onder meer China. Dat land wordt vaker beticht van overproductie en dumping van staal tegen te lage prijzen. Trump liet vrijdag al weten nog geen definitieve beslissing te hebben genomen over de kwestie.

    Eerder op de dag bleek uit gegevens van de internationale brancheorganisatie World Steel Association (WSA) dat de staalproductie in China in januari licht is afgenomen ten opzichte van een jaar eerder. Wereldwijd ging de staalproductie wel iets omhoog.

    Het is voor het eerst in tijden dat er een daling is te zien in de staalproductie in het grote Aziatische land. De 64 landen die hun cijfers doorgaven aan de WSA waren samen goed voor een productie van 139,4 miljoen ton staal. Dat was 0,8 procent meer dan een jaar eerder. Iets minder dan de helft van het totaal (67 miljoen ton) kwam uit China, waar de productie met 0,9 procent terugliep. Het cijfer over China betreft overigens een schatting door de WSA.
  3. forum rang 10 voda 27 februari 2018 19:32
    Global crude steel production in January’18 continues to increase YoY - worldsteel

    World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 139.4 million tonnes in January 2018, a 0.8% increase compared to January 2017. While Chinese crude steel production, due to winter curbs, reduced by 0.9% YoY, Indian crude steel production surged by 2.5% YoY to 9,028,000 tonnes, only 1968 tonnes less than second placed Japan at 9,029,968 tonnes. If the current trend continues, India will replace Japan as the second largest crude steel producer in the world this month.

    Zie bijlage voor cijferwerk.

    The crude steel capacity utilization ratio of the 64 countries in January 2018 was 70.0%. This is 0.2 percentage points lower than January 2017. Compared to December 2017, it is 0.7 percentage points higher.

    Source : Strategic Research Institute
    Bijlage:
  4. forum rang 10 voda 27 februari 2018 19:34
    Tangshan bent on extending production curbs - Report

    Caixin reported that one of China’s largest steel-making cities will extend production curbs for another eight months after the end of the current heating season, as part of an effort to maintain improved air quality. Tangshan, in northern China’s Hebei province, will require steel mills to avoid using at least 10-15% of their capacity from March 16 to November 14

    The city’s steel producers have already been operating under restrictions brought by a nationwide campaign to reduce air pollution. Steel producers in multiple Hebei cities, including Handan, Tangshan and Shijiazhuang, were ordered to keep their blast furnace utilization rates under 50% during the official winter home-heating season, which started in mid-November and is expected to end on March 15.

    Although the Tangshan city government is still seeking opinions from industry participants on the rules announced Friday, the curbs outlined in the document are expected to be implemented without much revision.

    China’s anti-pollution campaign, which also included restrictions on coal production and transportation, appears to have been effective, with air quality in notoriously smoggy Beijing improving significantly from 2016 figures through mid-winter.

    The extended curbs would push down Tangshan’s steel output by 9.875 million tons between mid-March and mid-November this year.

    Tangshan is one of the country’s major steel production centers. The city accounted for around 11% of the 832 million tonnes of crude steel produced in China last year.

    Source : Caixin
    Bijlage:
  5. forum rang 10 voda 27 februari 2018 19:37
    Revive steel jobs in US even if it takes import tariffs - Mr Trump

    VoA reported that US President Mr Donald Trump on Monday said he wants to bring the steel industry back to America even if it means applying tariffs to imports from other countries. Mr Trump told a meeting at the White House with state governors "I want to bring the steel industry back into our country. If that takes tariffs, let it take tariffs, OK? Maybe it will cost a little bit more, but we'll have jobs.”

    The US Commerce Department has recommended Trump impose curbs on steel and aluminum imports from China and other countries.

    On Friday, the White House had said Trump has not yet made a final decision on the matter.

    Source : VoA
  6. forum rang 10 voda 27 februari 2018 19:38
    Liberty House explains Bhushan Power & Steel bid case in NCLT

    PTI reported that following the rejection of its bid for acquiring Bhushan Power and Steel, UK based Liberty House has made a case at the National Company Law Tribunal (NCLT), elaborating as to why it wants its bid to be opened. A spokesperson with Liberty House told PTI “The Court heard our petition. The judge heard our arguments. We explained our case stating why we want our bids to be opened in the first case.”

    Liberty House also explained to the NCLT that it wants to do business in India as there is no better time than this.

    He added “The matter is sub judice and we have full faith in NCLT.”

    The Committee of Creditors had last week rejected the bid of Liberty House to acquire Bhushan Power and Steel Ltd, leaving Tata Steel and JSW Steel in the race for taking over the assets of the bankrupt firm. COC in a meeting had rejected the bids of Liberty House because it submitted the bids after the last date of submission, which was February 8.

    Source : PTI
  7. forum rang 10 voda 27 februari 2018 19:39
    Ruia trust offers to exit Numetal - Report

    Business Standard, citing a source close to the development, reported that Singapore-based trust that owns a 25% stake in Numetal, the bidder for Essar Steel, has offered to sell its stake to other shareholders of Numetal if the trust is found ineligible to participate in the bid. The offer to exit from Numetal has been made in the bid proposal submitted by Numetal, according VTB Bank of Russia and another Russian partner own a 75% stake in Numetal and, if needed, they will raise their stake to 100%.

    Numetal and ArcelorMittal are the two companies to submit bids for Essar Steel. Lenders had earlier raised objections to the offers made by both Numetal and ArcelorMittal. This was because ArcelorMittal Netherlands NV held a 29% stake in Uttam Galva Steels, a non-performing asset (NPA). Besides, ArcelorMittal’s promoter, L N Mittal, personally held a 33% stake in KSS of Kazakhstan, which, in turn, held a 100% stake in KSS Petron, another NPA in India. Both ArcelorMittal and Mittal sold their stakes just before the bid deadline closed. On the other hand, there were objections to Numetal’s offer on the grounds that the Ruias were promoters of Essar Steel when it turned into an NPA. And hence, Ruia as a trust beneficiary will not clear the eligibility test.

    With the offer of the Ruias to sell their minority stake in Numetal to other shareholders, the chances of the Numetal offer being accepted are higher. But a final decision will be made by legal advisor Cyril Amarchand Mangaldas to the resolution professional.

    According to legal opinion taken by Numetal from a former Supreme Court judge, the trust’s 25 per cent stake in the company will not attract provisions of Section 29A as the Ruias will not have any management control or directors on the board of Numetal. This opinion is also included in the Numetal bid document.

    Source : Business Standard
    Bijlage:
  8. forum rang 10 voda 27 februari 2018 19:40
    Mexico slaps Industrias CH with fine for stock manipulation

    Reuters reported that Mexico's securities regulator has imposed one of its biggest fines ever for market manipulation on steel company Industrias CH, owned by billionaire Rufino Vigil Gonzalez. Industrias CH was fined 2.96 million pesos ($159,764) at the end of November for making prohibited trades under a law banning simulating price or volume, or effectively trading with itself. Industrias CH investor relations manager Jose Luis Tinajero and subsidiary Simec were also fined, and the database entries for their fines were more specific, citing various buy and sell trades that constituted simulation trades in terms of traded volume.

    On Monday afternoon, Industrias CH filed a notice with the stock exchange saying it had appealed the fines before the CNBV on January 10.

    Such trades, known as wash trades in other markets, are a tactic in which an investor buys and sells a security at the same time to create the illusion of greater demand.

    Source : Reuters
  9. forum rang 10 voda 27 februari 2018 19:41
    Carpenter Technology acquires CalRAM

    Carpenter Technology Corporation announced it has purchased MB CalRAM LLC, a leader in powder-bed fusion additive manufacturing metal printing services. Camarillo, California-based CalRAM is a leader in powder-bed fusion additive manufacturing technologies used in the aerospace, defense, power generation, and oil and gas industries. CalRAM’s 25,000 square foot manufacturing facility mobilizes the capabilities to produce a full range of highly differentiated parts.

    Tony Thene, Carpenter’s President and CEO, said “This strategic acquisition builds upon our existing additive manufacturing capabilities and provides direct entry into the rapidly expanding part production segment of the additive manufacturing value chain. The addition of CalRAM brings industry leading technology and processes coupled with a talented team and are a strong complement to Carpenter’s deep technical experience in producing highly engineered metal powders and wire for additive manufacturing applications, including mission-critical applications such as jet-engine fuel nozzles, rocket-thrust chambers, and orthopedic implants. CalRAM’s proven expertise and strong customer relationships will accelerate and enhance our capabilities and will further strengthen our ability to be the preferred provider of end-to-end next generation additive manufacturing solutions.”

    He added “As additive manufacturing continues to evolve into more advanced components with increasing complexity, our customers are seeking partners who can not only produce parts, but also possess metallurgical expertise to help determine the best materials and processes to fit their needs in demanding applications. Our unique combined capabilities will not only allow us to deliver the best solution for the customer, but also allow us to be a leader in the advancement of the evolution of the additive manufacturing industry.”

    Imperial Capital LLC served as exclusive financial advisor to MB CalRAM LLC on the transaction.

    Source : Strategic Research Institute
  10. forum rang 10 voda 27 februari 2018 19:44
    BlueScope Steel CEO worried over Trump tariff plan

    WA Today reported Australian steelmaker BlueScope is unsure whether it will be spared under US President Donald Trump's crackdown on steel imports after a delegation led by Prime Minister Malcolm Turnbull left Washington unable to secure assurances from the White House. The steel company's new chief executive, Mark Vassella, told investors on Monday that Bluescope officials and the federal government had been lobbying for special treatment for the company, including exemptions from tough new proposed steel import tariffs or quotas, but no commitment had yet been secured.

    The case they were making to Trump administration, Mr Vassella said, was that BlueScope was not "just a straight exporter", as its steel from Australia was converted into higher-value product at its US west-coast operations.

    He said "We have been working hard through the Department of Foreign Affairs and Trade, through the prime minister, through Minister Steven Ciobo, through Joe Hockey in Washington, the ambassador, to plead our case. Lots of work has gone into that, but we're not sure what the outcome is going to be."

    Source : WA Today
  11. forum rang 10 voda 27 februari 2018 19:47
    US steel imports in January surge by 17pct MoM - AISI

    Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the US imported a total of 2,875,000 net tons (NT) of steel in January 2018, including 2,327,000 net tons (NT) of finished steel (up 17.3% and 23.8%, respectively, vs. December final data). Total and finished steel imports are up 2.2% and down 0.1%, respectively, vs. the same period in 2017. Finished steel import market share was an estimated 26% in January.

    Key finished steel products with significant import increases in January compared to December include sheets and strip all other metallic coatings (up 129%), reinforcing bars (up 82%), oil country goods (up 78%), line pipe (up 44%), standard pipe (up 30%), hot rolled sheets (up 27%), hot rolled bars (up 22%), wire drawn (up 14%), mechanical tubing (up 13%), and plates in coils (up 11%).

    In January, the largest volumes of finished steel imports from offshore were for South Korea (339,000 NT, up 77% from December final), Japan (141,000 NT, up 73%), Turkey (140,000 NT, up 141%), Taiwan (117,000 NT, up 188%) and Brazil (102,000 NT, up 6%). Below are charts on estimated steel import market share in recent months and on finished steel imports from offshore by country.

    Zie bijlage voor cijferwerk.

    Source : Strategic Research Institute
    Bijlage:
  12. forum rang 10 voda 27 februari 2018 19:55
    VLCC tankers prime candidates for scrapping - Clarkson Platou

    The rumor mill has stalled things at the demolition market for ships, with Pakistan seemingly ready to reopen its import market for tankers. In any case though, weak freight rates and increased tonnage availability, mean that VLCC tonnage is looking like prime candidates for scrapping. On the back of this development, Clarkson Platou Hellas said in its latest weekly report that “as Chinese New Year came and we entered the “Year of the Dog”, the market is still consumed with the rumour from cash buyers on the back of the anticipated re-opening of Pakistan importing tankers, however no clear evidence to support this has been seen and so we may just wait and see if this speculation is rewarded. Despite the holidays in the Far East, there were still some large units to whet cash buyers appetite resulting in some very firm numbers as can be seen below. This has helped the market in some way as only last week, there was confusion as to where we were due to the disparity in numbers from cash buyers and the global stock price volatility experienced.

    Therefore the resale value is critical for units committed this week, so it will be interesting to see the levels achieved at the water front for the recent sales and whether cash buyers rates were mad or justified. With the continued weakening freight markets for VLCC’s, it seems the list of potential candidates grows by the week as owners start to face the harsh reality of the market conditions. It is also important for the committed sellers of such units to understand the difficulties involved as well as the limited number of yards available to take such units, hence the lower price that Cash Buyers can offer for the larger wet tonnage”, the shipbroker concluded.

    In a separate note, GMS, the world’s leading cash buyer said that “on the back of a meeting between the Pakistan Ship Breakers Association (PSBA) and local authorities, ongoing rumors surrounding a potential Pakistan re-opening for tankers within the next month began to further intensify. The news may well be greeted with the usual degree of outlandish Cash Buyer speculation that we have frequently seen through the course of the recent past. However, the reality is that Pakistan is a market that too has softened in recent weeks and an influx of tanker candidates is hardly going to help in boosting levels from Gadani Buyers. That being said, Sinokor of South Korea continued their clear-out of older tonnage with the sales of a Capesize bulker (a highly sought after and rare breed of vessels these days) in addition to an Aframax tanker, at some unsurprisingly bullish numbers.

    Moreover, given the spate of fixtures through 2018, there was of course, another VLCC concluded on private terms this week, to swell the growing ranks of unsold tonnage out there, and perhaps another sign that Cash Buyer confidence on a Pakistan reopening may be well-founded. Meanwhile, pricing has remained stagnant for several weeks now, with marginal declines witnessed in both India & Pakistan and Bangladesh just about holding onto their levels, through what has been an overall underwhelming start to the year for Chittagong buyers. Finally, Chinese New Year holidays have certainly interrupted the flow of deals and deliveries (as minimal as they have been) this week and it may be a stilted week ahead as people slowly drift back to work from their various holidays”, GMS concluded.

    Meanwhile, Allied Shipbroking added that it was “a fairly slow week in the market, with less than a handful of larger size vessels being sent to be beached. The majority of these were in the Tanker space, with a couple of vintage ladies having been let go at relatively low numbers compared to the firm figures being seen for dry bulkers and container vessels of late. As a direct comparison, you could take the sale of the only dry bulk vessel being sold to breakers this past week, which managed to receive a significantly higher price than any of the tanker vessels sold, reflecting both the preference and higher competition noted for these vessels right now. Overall prices are still holding firm and are looking to be able to sustain these levels for a while longer, with most market fundamentals still providing fair support, while competition amongst breakers continues to be high as the number of demo candidates, especially on the large sizes, remains tight”.

    Source : Nikos Roussanoglou, Hellenic Shipping News Worldwide
    Bijlage:
  13. forum rang 10 voda 27 februari 2018 20:02
    Alba on track to complete debt financing for smelter expansion

    Reuters reported that Aluminium Bahrain owner of one of the world’s largest aluminium smelters, will raise by the end of this year’s first quarter the final debt amount needed to fund its Line 6 expansion project. The company said that with Line 6, Alba will become the world’s largest single aluminium smelter complex, increasing production capacity by 540,000 metric tonnes to a total capacity of 1.5 million tonnes per year.

    The project involves capital expenditure of around USD 3 billion. Of this amount, USD 1.5 billion was funded through a syndicated loan raised in 2016, USD 400 million was funded internally, and USD 700 million was borrowed last year through loans guaranteed by export credit agencies.

    This means there is around USD 400 million left of financing, also backed by export credit agencies, which will be completed by the end of March, deputy chief executive Ali Al Baqali told Reuters in an interview last week.

    BNP Paribas, Citigroup, Commerzbank, Credit Agricole and Standard Chartered are among major commercial banks involved in the ECA funding for Alba, said Al Baqali. The ECAs backing this second phase of ECA funding include Germany’s Euler Hermes, Canada’s EDC and Japan’s NEXI.

    Line 6 is on track to start production at the beginning of 2019, after which Alba will need about six months to ramp up output fully, Al Baqali added.

    Source : Reuters
  14. forum rang 10 voda 27 februari 2018 20:24
    ArcelorMittal Conshohocken lay offs due to unfairly traded steel imports
    Published on Tue, 27 Feb 2018

    Triblive.com reported that ArcelorMittal is planning to lay off workers at its Montgomery County, Pennsylvania, steel plant starting in April. Triblive.com claims that 125 workers are likely to be out of work temporarily as the steelmaker makes plans to idle its Conshohocken mill due to limited demand 'from customers that build bridges, ships, tank cars and military equipment'.

    The steelmaker is blaming unfairly traded steel imports but says that the mill will be restarted if the market improves.

    The Conshohocken plant employs 265 people.

    According to ArcelorMittal, 17 people will be laid off in April.

    Mr John Brett, president and CEO of ArcelorMittal USA, said that USA operations haven't made a profit over the last six quarters.

    US operations lost USD 38.9 million during Q4 2017.

    Source : Triblive.com
    Bijlage:
  15. forum rang 10 voda 27 februari 2018 20:25
    TATA Steel seeks UK government funds for Wales plant - Report

    The Sunday Times reported that TATA Steel is seeking UK government backing for a 60 million pound project at its Port Talbot steelworks in Wales. The project is aimed at overhauling a production line at Port Talbot to be able to make lighter steel for car-making, which is expected to secure the future of Britain’s largest steel operation. The Sunday Times reported that The Indian steel giant is believed to have informally requested financial support from the government to upgrade its Continuous Annealing Process Line to make lighter, thinner and stronger galvanised steels. The move is aimed at meeting demands from the automotive sector, which is trying to slash the weight of cars to cut emissions.

    Industry sources told the newspaper that UK taxpayer support for the CAPL upgrade was integral to Tata committing to reline an ageing blast furnace.

    Without the extra investment, one of the two towering furnaces that convert iron ore into molten iron is due to finish operations by the end of next year.

    Tata Steel is understood to be working on a plan to extend the furnace’s life until about 2026. However, this plan falls short of a full relining, which would cost about 150 million pounds.

    Maintaining Port Talbot’s two furnaces is seen by workers’ unions and the UK government as crucial to the survival of the plant, which has about 4,000 workers.

    In September 2017, UK business secretary Greg Clark wrote to Natarajan Chandrasekaran, chairman of Tata Sons, asking for a “specific commitment” to the relining.

    Chandrasekaran said overhauling the site would help “develop the business viability” for the reline but fell short of a commitment.

    Source : Siasat
  16. forum rang 10 voda 27 februari 2018 20:31
    Dongkuk Steel and Tokyo Steel form biz tie-up in steelmaking technologies

    Yonhap reported that Dongkuk Steel Mill Co has formed a strategic business partnership with Tokyo Steel Co to cooperate on environmentally friendly steelmaking technologies. Donguk Steel said in a statement that each company will receive a one percent stake in the other as part of their efforts to increase competitiveness in their electric furnace businesses.

    As its main business producing the thick steel plates used in shipbuilding was hard hit by the downturn in the that industry, the South Korean company badly needs a new growth driver.

    Steelmakers using an electric furnace recycle scrapped steel into steel products, such as thick steel plates and hot and cold rolled coils. Unlike the integrated steel mills at POSCO and Hyundai Steel Co., they do not use coal or iron ore.

    Source : Yonhap
  17. forum rang 10 voda 27 februari 2018 20:33
    AISI update on Raw Steel Production in US in Week 08

    In the week ending on February 24, 2018, domestic raw steel production was 1,783,000 net tons while the capability utilization rate was 76.5 percent. Production was 1,770,000 net tons in the week ending February 24, 2017 while the capability utilization then was 75.9 percent. The current week production represents a 0.7 percent increase from the same period in the previous year. Production for the week ending February 24, 2018 is up 1.8 percent from the previous week ending February 17, 2018 when production was 1,751,000 net tons and the rate of capability utilization was 75.1 percent.

    Adjusted year-to-date production through February 24, 2018 was 13,540,000 net tons, at a capability utilization rate of 73.9 percent. That is down 1.6 percent from the 13,758,000 net tons during the same period last year, when the capability utilization rate was 75.2 percent.

    Broken down by districts, here's production for the week ending February 24, 2018 in thousands of net tons: North East: 217; Great Lakes: 633; Midwest: 161; Southern: 699 and Western: 73 for a total of 178.

    Source : Strategic Research Institute
  18. forum rang 10 voda 27 februari 2018 20:34
    Iranian semi finished steel exports up by 89% YoY

    Financial Tribune reported that Iran semi finished steel exports stood at 5.36 million tonnes, growing 89% YOY, as exports of finished steel products shrank 25% YOY to 1.18 million tonnes. According to the Iranian Steel Producers Association, Iranian steelmakers exported 6.55 million tonnes of steel during the first 10 months of the current fiscal year (March 21, 2017-Jan. 20), posting a 48% year on year growth. It said that Semi finished steel exports made up 5.36 million tons of the total figure, growing 89% YOY.

    Billet and bloom had the lion’s share of semis exports, standing at an aggregate of 2.95 million tons to mark a 65% growth YOY. Slab shipments followed with 2.41 million tons, surging 130% YOY.

    Exports of finished steel products during the 10 month period shrank by 25% YOY to 1.18 million tonnes.

    Source : Financial Tribune
  19. forum rang 10 voda 27 februari 2018 20:35
    GMS Market Commentary on Shipbreaking in Week 08 - WILD CARD!

    The supply of tankers for recycling into the sub-continent markets continued at pace, with several more (private) Aframax and Suezmax units and yet another VLCC reportedly sold this week. The ongoing rumors of an imminent Pakistan market reopening within the next month or so have further intensified over the last week and this has led to some increasingly speculative Cash Buyer purchases – particularly on the VLCC sold this week, which saw some fierce offers / competition, eventually leading to her fixture at a surprisingly firm price.

    With several more VLCCs and FSUs due to be introduced for sale for recycling and / or already in the market and ready to receive offers in the coming week(s), there is a danger that the number of unsold units in Cash Buyer hands will firmly outstrip prevailing local demand – especially if the Pakistani market fails to re-open (as it has for over 6 months now).

    At present, there remain only a select number of open Buyers who are capable (in terms of LC limits) to take on such large LDT vessels in both India & Bangladesh and whilst there will likely be more open buyers in Pakistan (if and when they do re-open), it is still expected to take a few more months and several trial cases before Gadani Buyers are truly confident of what is needed to successfully and aggressively acquire tankers and import them hassle-free once again.

    New guidelines still need to be implemented and it is highly expected that wet units will need to be thoroughly cleaned, similar to the stringent “gas free for hot works” standards required for tankers currently being cleared in both India and Bangladesh.

    Overall, markets have remained bullish across the board for yet another week, with the one wild card factor (which is leading to above market speculative plays by certain Cash Buyers) being the reopening of the Pakistani market after over a year of closure on wet units.

    Source : GMS Weekly
    Bijlage:
  20. forum rang 10 voda 28 februari 2018 16:52
    Hong Kong condemns US plan to impose tariffs on aluminium and steel

    South China Morning Post reported that Hong Kong’s government and industry players lashed out at Washington’s plan to impose heavy tariffs on aluminium imports from mainland China and the city, which has been dragged into escalating Sino-US trade tensions. Secretary for Commerce and Economic Development Edward Yau Tang-wah slammed a proposed 23.6%t tariff targeting the city, saying the government had voiced its opposition to the US consul general.

    He said “The Hong Kong government disapproves of this proposed action by the US government. We consider this is a unilateral and discriminatory act which is based on unfounded allegations.”

    A source told the Post that Yau on Monday met with members of five industry groups as well as officials at the American Chamber of Commerce in Hong Kong to register concerns over the tariff increase.

    Five major Hong Kong trade bodies collectively rejected the planned tariffs, which they described as unfair and discriminatory trade arrangements towards individual countries or regions.

    Among the groups accusing the US government of violating free trade were the Federation of Hong Kong Industries, the Chinese Manufacturers’ Association of Hong Kong, the Hong Kong General Chamber of Commerce, and the Hong Kong Chinese Importers’ and Exporters’ Association.

    Source : South China Morning Post
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