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Dalian iron ore hits 3-week high, slow offers of seaborne cargoes

Chinese iron ore futures rose to a three-week peak on Tuesday, supported by shrinking inventory of the commodity at the country’s ports amid slow offers of fresh cargoes. “There hasn’t been a lot of offers of seaborne cargo recently, hence the continuous drop in port stocks,” said a Shanghai-bas ...

India, second-biggest wheat grower, reaping smallest crop since 2008

India is probably heading for the smallest wheat harvest in seven years after rains and hail ravaged farms, forcing bread and pizza makers to boost imports. Production is set to drop as much as 17% to 80 million tonnes from a record 95.9 million tonnes a year earlier, said Pravin Dongre, chairma ...

“Cautious optimism” abounds in Asia commodities

There appears to be an outbreak of “cautious optimism” in the Asian commodities sector. It was easy to lose track of the number of times the phrase popped up in presentations and conversations at four major commodities conferences in the region in the past two weeks. However, defining what peopl ...

India coal: transport bottlenecks as demand is expected to rise

With Chinese demand for seaborne coal stalling, India has become the great hope of the seaborne coal market. However, improvements in inland transport infrastructure are critical both to cope with rising imports and the delivery of competing plans for a huge rise in domestic production. Investme ...

Dry Bulk freight market takes to the pool to stay afloat

A prolonged period of paltry returns and overcapacity in the dry bulk freight market has resulted in the creation of new shipping pools by shipowners to help stay afloat. With rates at rock bottom and historically low earnings for shipowners, at least two shipping pools in the dry bulk segment h ...

Dry bulk shipper Golden Ocean says in worst market since 1980s

Dry bulk shipping firm Golden Ocean reported first-quarter earnings below forecasts on Thursday and said its market had gone from “bad to worse” with market conditions not seen in three decades. Golden Ocean, controlled by shipping tycoon John Fredriksen, said its made a net loss of $75.3 millio ...

Wheat imports soar on lower global prices

Wheat imports in the 11 months to May have exceeded last year’s total, boosted by increased demand for flour and wheat-based snacks as the grain is cheaper than rice, market operators said. Bangladesh imported 34.03 lakh tonnes of wheat between July 1 and May 25 of the current fiscal year, which ...

Corn Imports from India under scanner in Canada

Indian Maize(corn) exports to Canada has received a fresh blow at a time when demand for Maize is estimated to rise both on the export as well as domestic front. Canadian Food Inspection Agency (CFIA) has decided to detain corn imports from India used as animal feed to test them for aflatoxins. ...

Asian grains: flour millers buy Black Sea wheat, Thailand buys US cargo

Asian flour millers bought 112,000 tonnes of Black Sea wheat in recent deals for shipment in July and August as suppliers from Russia and Ukraine aggressively market their upcoming crop. Sales of Black Sea wheat in Asia come at the expense of Australian cargoes, which are too expensive to compet ...

Adani CEO says India will remain an importer of coal

India will be an importer of coal for many years to come, says the head of the country’s energy giant Adani. The company is aiming to build the Carmichael Mine in Central Queensland, along with a port expansion at Abbot Point, to export the coal to India. Adani CEO, Jeyakumar Janakaraj, was gues ...