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ASIA PANAMAX DRY: Pacific bearish as Chinese default on soybean orders

The Panamax freight market in the Pacific remained flat to bearish at the end of the week on reports of more soybean order cancellations by Chinese buyers. Although vessel owners in the Pacific were resisting further declines in freight rates, market participants began to adopt a more bearish ou ...

Russia expands coal export operations

Russia is presenting more competition for Australian coal exports to China, as the North Korean port of Rajin comes into service. A joint venture between Russian Railways and the North Korean Ministry of Railways has rebuilt one of the port’s wharfs and a rail link connecting it to Russia, ...

Iron ore at six-week high, further gains seen

Spot iron ore prices rose to the highest since February as firmer steel demand encouraged Chinese mills to restock, helping the raw material recover nearly 13 percent from last month’s rout.   China’s pledge to speed up spending on railway projects to aid a slowing economy has f ...

Moroccan wheat trade pushes for longer import window

Millers and wheat importers in Morocco have asked the government to stablish a longer annual window for imports after scrambling to secure shipments this season, trade sources said. Morocco, like other North African countries, depends on imports of staple cereals. It is expected to buy around 2. ...

China set to boost tin exports as traders eye arbitrage window

Indonesian curbs on tin exports are offering a prop to Chinese producers facing slumping demand at home, underpinning global prices and boosting the opportunity to ramp up overseas sales.   Tin prices in China have slipped below the London Metal Exchange (LME) price for the first time in th ...

Singapore’s MPA cancels Coteam Petroleum’s bunker licenses due to breaches

Singapore’s Maritime and Port Authority said it had canceled the bunker supplier and bunker craft operator licenses of Coteam Petroleum Trading with immediate effect.   The company was found to have breached the terms and conditions of “the Bunkering License (Bunker Supplier) by ...

Iron Ore Trims Quarterly Loss as China Seen Countering Slowdown

Iron ore climbed the most in seven months, trimming a quarterly drop, on speculation that China may speed up construction projects and take measures to counter slowing economic growth in the world’s largest buyer.   Ore with 62 percent content delivered to the Chinese port of Tianjin climbe ...

Why China’s huge iron ore inventory at ports may not be negative

Low iron ore inventory played a critical role last year in pushing the Baltic Dry Index—a benchmark for the price of moving dry bulks across the ocean—to levels unseen in years before. In mid-2013, iron ore inventory at Chinese ports stood at just 70 million metric tonnes, below historic average ...

Dry Panamax freight rates for Brazil-China grain drop on low demand

Freight rates for grain runs from South America to the Far East declined amid low Chinese soybeans demand, oversupply of tonnage and generally bearish sentiment in the Atlantic market.   Grain runs basis 60,000 mt on the Santos-Qingdao route dropped sharply from $41/mt on Thursday to $38.50 ...

Qinhuangdao Port coastal coal freights down, ending 5-week upward trend

Freight rates for shipping coal from northern China’s Qinhuangdao port to the other Chinese ports of Zhangjiagang, Shanghai and Guangzhou dropped significantly in the week to March 25, ending a five-week upward trend, Qinhuangdao Port said Wednesday.   Rates from Qinhuangdao to Zhangj ...