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South Korea’s Iron Ore imports declined in February

According to latest trade statistics, the iron ore imports by South Korea declined marginally during the month of February this year. The country imported 5.83 million tons of iron ore during the month, 1.1% lower when compared with the imports during the same month a year ago. The South Korean ...

China Rushes to Strike Balance Between Steel Production and Demand by 2017

China will accelerate reforms in its overly invested iron and steel sector to bring it back to a balanced level by 2017, said the Ministry of Industry and Information Technology. Overcapacity has plagued China since the global financial crisis in 2008. Rapid expansion in the iron and steel secto ...

Global Soybean output set to rise by 10%

Owing to record crops in leading producers, world soybean output in 2014/15 is forecast to expand by 10%, to a record of 314m t. Increased consumption in feed and food sectors – primarily in the Asian region – is set to underpin a further rise in global use, according to a new report by Internat ...

Asia Dry Bulk-Capesize rates to remain flat despite capacity cuts

Rates for capesize bulk carriers, which have been close to six-year lows for the last two months, are unlikely to improve as a tonnage glut continues to weigh on the market even as owners increasingly idle, lay-up or scrap their vessels, brokers said. “I don’t think there’s any positive news. Th ...

China’s manufacturing sector is struggling to keep up pace: How will this affect dry bulk shipping?

Data released on the condition of the Chinese manufacturing sector points towards weaker business conditions. HSBC/Markit China Manufacturing Purchasing Managers’ Index (PMI) is coming down from a seven-month high in February (50.7) to an eleven-month low in March (49.2). Overall slower economic ...

The Dry Bulk Fleet At Breaking Point

The severe oversupply in the bulkcarrier fleet has contributed to the current trough in the dry bulk market, putting considerable financial pressure on owners, many of whom are subject to earnings close to operating costs. This has triggered a surge in bulkcarrier demolition since the beginning ...

India’s Coal imports to rise to 200Mt this fiscal

As the government is working on Prime Minister Narendra Modi’s promise to provide power for all, India’s coal imports may touch a record 200 million tonnes in the current fiscal. This signals a 19 per cent rise in imports, media report quoted Anil Swarup,Coal Secretary. India is the world’s thir ...

THERMAL COAL-Australian coal prices fall to pre-2008 crisis levels

Australian physical coal prices have fallen to levels not seen since before the 2008/2009 financial crisis as Chinese demand suffers from slower economic growth and new environmental rules, with analysts predicting the market could slump further. China’s slowdown, which has seen its economy expa ...

Next Five Years Will Bring Huge Changes To China’s Commodity Demand

Remember the commodity super-cycle? It was pedaled by the Chinese. It made smart investors like Jim Rogers filthy rich. That story is over, as everyone now knows. And the next five years are going to bring huge changes to the country’s demand for raw materials, especially coal and oil. China’s c ...

China Seen Curbing Coal Supply as Price Drops to Near 8-Year Low

China’s benchmark thermal-coal price slumped to the lowest level in almost eight years, prompting speculation that the government will take further steps to curb an oversupply. Spot coal with an energy value of 5,500 kilocalories per kilogram at the port of Qinhuangdao, China’s benchmark grade, ...