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India’s coal industry in flux as government sets ambitious coal production targets

Coal consumption in India, particularly in the electric power sector, is outpacing India’s domestic production. From 2005 to 2012, India’s coal production grew by only 4.7% per year to about 600 million metric tons while the country’s coal-fired electric power capacity grew by a much faster rate ...

Dry bulk ship owner optimistic about future prospects of the market

Dry bulk ship owner Golden Ocean appeared optimistic on the long term prospects of the dry bulk market, mainly thanks to an expected resolution of the oversupply problems of the market. The owner added in its second quarter report that the average spot rates so far in the third quarter are highe ...

S Korea July thermal coal imports down 1% on year to 8.55 mil mt

South Korea imported 8.55 million mt of thermal coal in July, down 1% on the year but 4% higher than June, as higher volumes from Australia offset lower Indonesian supply, according to customs data Tuesday. Total South Korean thermal coal imports in January-July were up 2% on the year to 55.47 m ...

S.Africa to impose 10 pct steel import tariff – industry group

South Africa’s government will impose a 10 percent import tariff on steel imports to protect the struggling industry, with the possibility of hiking them further, an industry body said. Cheap imports from China are hurting steel makers in South Africa, which currently does not have import duties ...

Bulker Ordering: A Positive Attempt To Address Oversupply?

Less than 60 bulkers were contracted in the first seven months of 2015, a drop of 91% y-o-y, and down from more than 1,200 in full year 2013. Combined with the firm pace of deliveries, this has led to a 20% decline in the bulkcarrier orderbook since the start of 2015. Deliveries are expected to ...

Bangladesh plans to import 950,000 T wheat in year to June 2016

Bangladesh’s state grains buyer plans to import 950,000 tonnes of wheat in the year to June 2016, up from 300,000 tonnes the previous year, seeking to secure food supplies. “We will seek wheat with 12.5 percent protein content to ensure quality,” said Ilahi Dad Khan, procurement director at the ...

India Thermal Coal Imports at 12 Major Ports Jump 24% in Q1

Imports of thermal coal jumped 24 per cent at the country’s top 12 major ports to 32.54 million tonnes (MT) during the April-July period this year even as the government continues to announce its commitment to boost domestic output, mainly by monolith Coal India. These 12 ports had handled 26.29 ...

Chinese steel may flood VN market

After the strong depreciation of the Chinese yuan, steel industry insiders have warned local steel producers that Chinese steel products could flood the Vietnamese market, causing difficulties for them. Vice-Chairman of the Viet Nam Steel Association Nguyen Van Sua said although in recent years, ...

Dry Bulk Freight Market Recovery May Take Year to Manifest, a Platts Survey Reveals

The global dry bulk freight market, crippled by oversupply but seeing signs of renewed activity, is expected to take at least a year to hit the road to recovery, according to the latest Platts survey of shipping market participants. This inaugural Platts Dry Bulk Market Survey was conducted in J ...

Glencore sees China coal import fall offset by Indonesian cuts

Glencore expects the sharp fall in coal imports from top consumer China to be offset to some extent by a fall in output from Indonesia, the company’s CEO said. China’s coal imports for the first seven months of 2015 fell nearly 34 percent from the same period last year, due to environmental conc ...