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Indonesian coal production cuts give weak market rare support

Asian coal prices have risen 3 percent since the start of August as Indonesian production cuts provide a floor for a market that has lost two-thirds of its value in the past four years, but analysts say a big price rebound is unlikely due to oversupply. Benchmark prices for Australian coal cargo ...

Turkey’s H1 thermal coal imports jump 29% year on year to 12.9 mil mt

Turkey’s imports of bituminous thermal coal in the first half of 2015 surged 29% year on year to 12.931 million mt, according to data from the Turkish Statistical Institute. Total H1 sales for imported thermal coal were $1.089 billion, with no comparable year-ago figure, equivalent to an H1 aver ...

S. Korea’s H1 grain imports fall 6 pct on weak prices

South Korea’s grain imports dropped nearly 6 percent on-year in the first half due to weaker international prices and decreased domestic demand, government data showed Friday. Imports of corn, wheat, rice, barley and oats reached US$1.86 billion in the January-June period, down 6.1 percent from ...

Baltic indices double but shipping companies not enthused

Baltic indices have been in a recovery mode since the last few months with the Baltic Dry Index even doubling to over 1,100 levels from its all-time low of 509 noted in February. Baltic Dirty and Baltic Clean Tanker indices meanwhile, are enjoying the rising trend due to falling crude oil prices ...

Asia Dry Bulk-Capesize rates could nudge lower after cargo flurry

Freight rates for capesize bulk carriers are likely to take a breather and drift lower after climbing to their highest level in nearly eight months this week following bad weather delays and charterers’ need for urgent tonnage, ship brokers said. “It’s been really hot. Both the Atlantic and the ...

Japanese Iron Ore imports fell 3% in June, says MoF data

The trade statistics released by the Japanese Ministry of Finance (MoF) for the month of June this year indicates 3% decline in iron ore imports by the country. The decline in imports is on account of production cuts implemented by country’s steel makers in order to lower inventory levels. The J ...

Brazil ships first corn cargo from new grains terminal in Maranhao

Brazilian trading company CGG was loading the first corn cargo to be exported from the new Tegram grains terminal in the northeastern state of Maranhao, one of the new export facilities built as an alternative to congested southern ports. CGG is shipping 65,000 tonnes of Brazilian new-crop corn ...

India’s Vedanta looks to restart Goa mines by October

India’s Vedanta Ltd said it expected to restart iron ore mining by October in top exporting Goa province and that talks were continuing with regulators for merging with its cash-rich unit Cairn India. The mining and energy group, which has been hit by a slump in crude prices and mining bans in k ...

China planning to step up controls on coal imports — report

According to consultancy Wood Mackenzie 85% of Chinese thermal coal producers and 35% of metallurgical miners are now running at a cash loss. Australia’s beleaguered coal sector, already hit by a slump in the price of the commodity and China’s slowdown, may now have to also face tougher import r ...

Unprecedented surge in imports hurting steel industry: Sajjan Jindal

An unprecedented surge in imports is hurting and causing harm to the domestic steel industry, said Sajjan Jindal, chairman and managing director, JSW Steel. Jindal, while addressing its 21st annual general meeting (AGM), alleged that this harm is being caused because steel is being sold at a pri ...