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Tuesday, February 19, 2019

Steel Producers News

Photo: Duluth Seaway Port Authority

Port of Duluth-Superior Generates $1.4 bln and 8,000 Jobs

The Port of Duluth-Superior generated $1.4 billion in economic activity and supported 7,881 jobs last year. Handling 35 million short tons of cargo generated over $504 million in total wages, salaries and purchases of goods and services in the regional economy. Cargo movement and vessel activity at the port also generated a total of nearly $240 million in federal/state tax revenues.The full report for the Port of Duluth-Superior, released by the Duluth Seaway Port Authority, spotlights…

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China's Commodity Imports Resilient, but Trade Dispute Looms

It's tempting to look at China's imports of major commodities in July and conclude that the strength is a sign that the escalating trade dispute with the United States isn't having much of an impact.While the first of the tit-for-tat tariffs came into effect in July, it will likely take several months before any real impact is discernible, and even then, separating out the effect of trade measures from other factors will be tricky.In the meantime, the commodity trade data can still provide insight to China's economy, and it's largely painting a picture of resilience.Imports of crude oil rose s

The Great Lakes-St. Lawrence Seaway System their connecting channels and the St. Lawrence River, serves the industrial and agricultural heartland of the U.S. and Canada. Photo provided by The Great Lakes Seaway Partnership

Great Lakes Shipping Supports 237,000 Plus Jobs

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…

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As Trade War Escalates, China's Steel Exports are Rising

The European Commission will this week unveil its proposed provisional "safeguard" measures to limit steel imports in response to the imposition of 25 percent tariffs on steel imports by the United States.The European Union fears that the U.S. tariff barrier will simply divert more steel into its marketplace. Others are equally concerned, with India also planning its own "safeguards".Such is the ripple effect of tariffs. Walls beget more walls.As the steel trade war heats up,…

Florian Dussler  (Photo: Xeneta)

Dussler tapped to Lead Xeneta's U.S. Ops

Xeneta is moving to accelerate the growth of its North American operation with the appointment of Florian Dussler as General Manager and VP Sales, Americas. Dussler, previously VP Americas for logistics software firm Transporeon, will head Xeneta’s New York office and aim to grow both awareness and market share for the leading global freight benchmarking and market intelligence platform. The news comes as Xeneta announces it has now built its database to over 55 million contracted rates, while also welcoming some major names to its community of global shippers.

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Trump to Set Hefty Tariffs on Steel, Aluminum Imports

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.

© furuoda/Adobe Stock

Trump: U.S. Hits Steel, Aluminum Imports with Hefty Tariffs

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.

© NS Photography / Adobe Stock

Baltic Index Posts First Gain in Seven Sessions

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.

(Photo: NORDEN)

Baltic Index Surges on Strong Demand for Larger Vessels

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.

New York Amends Ballast Water Rules

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.

Great Lakes-Seaway Adds $16 Billion to Canadian Economy

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 Defy Slower August Trend – Report Positive Tonnage

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…