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Iron ore futures prices rebounded on Thursday as news of authorities in top consumer China considering government purchases of unsold homes lifted investor sentiment and demand outlook for the key steelmaking ingredient. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 2.56% higher at 881 yuan ($122.09) a metric ...
https://www.hellenicshippingnews.com/iron-ore-rebounds-on-talks-of-china-property-stimulus-lower-steel-inventory/China’s demand for imported iron ore has most likely peaked, but the composition of future imports are likely to shift as the world’s biggest steel producer seeks to decarbonise. China, which buys about 75% of all seaborne iron ore, imported 1.18 billion metric tons of the key steel raw material in 2023, a record high, ...
https://www.hellenicshippingnews.com/china-iron-ore-imports-likely-at-peak-demand-composition-to-shift/The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, slipped to its lowest level in nearly two weeks on Thursday, weighed down by weaker rates across all segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 72 points, or 3.81%, to ...
https://www.hellenicshippingnews.com/baltic-index-hits-near-two-week-low-as-vessel-demand-dips/
https://www.hellenicshippingnews.com/baltic-index-hits-near-two-week-low-as-vessel-demand-dips/Iron ore futures extended gains on Friday to their highest in more than one week andwere on track for a weekly gain, supported by resilient consumption and a brighter demand outlook in top consumer China thanks to its latest property stimulus efforts. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) DCIOcv1 ...
https://www.hellenicshippingnews.com/iron-ore-jumps-to-over-one-week-high-on-chinas-property-stimulus-efforts/China’s domestic iron ore concentrate output in 2024 will rise between 5 million and 10 million metric tons from the year before, its state-backed steel association said on Friday. “The key domestic iron ore projects have made noticeable progress thanks to efforts from various parties,” the China Iron and Steel Association (CISA) said in a ...
https://www.hellenicshippingnews.com/chinas-iron-ore-supply-to-rise-by-up-to-10-mln-tons-in-2024-steel-association-says/The Baltic Exchange’s main sea freight index recorded its worst week in seven, weighed down by weaker demand across vessel segments. However, an uptick in capesize vessel rates helped snap a six-session losing streak on Friday. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, edged up 27 points, or ...
https://www.hellenicshippingnews.com/baltic-index-marks-worst-week-in-seven-on-lower-vessel-demand/
https://www.hellenicshippingnews.com/baltic-index-marks-worst-week-in-seven-on-lower-vessel-demand/The incoming new president of Panama has put water levels at the country’s canal as one of his most important items on his agenda. Jose Raul Mulino won last Sunday’s elections and will take office for a five-year term from July. Interviewed by Reuters, Mulino said he would try and get lawmakers to approve a …
https://splash247.com/panamas-president-elect-vows-to-make-canal-water-security-top-priority/
https://splash247.com/panamas-president-elect-vows-to-make-canal-water-security-top-priority/Greece’s Pantheon Tankers has emerged as the latest owner with orders for VLCCs in China. Brokers report the Anna Angelicoussis Kanellakis-backed owner of nearly 40 tankers signing up for a pair of 307,000 dwt newbuilds at Dalian Shipbuilding Industry Co (DSIC) with deliveries in 2027. Genoa-based shipbroking group Banchero Costa has placed the price tag …
https://splash247.com/pantheon-tankers-in-for-vlcc-brace-at-dalian/
https://splash247.com/pantheon-tankers-in-for-vlcc-brace-at-dalian/Explosives will be used to remove a section of the bridge pinning the Dali containership to the riverbed in Baltimore. The Key Bridge Response Unified Command is scheduled to use precision cuts made with small charges to remove a large section of the Francis Scott Key Bridge wreckage from on top of the boxship, which …
https://splash247.com/explosives-to-be-used-in-baltimore-to-help-free-dali-boxship/
https://splash247.com/explosives-to-be-used-in-baltimore-to-help-free-dali-boxship/It was a captivating final debate at the opening day of the inaugural Geneva Dry event a week ago, which saw panellists examine the future of fixing ships and the future of broking as a long-lasting integral part of the shipping industry. Hosting the panel, Tim Huxley, head of Mandarin Shipping and one of the …
https://splash247.com/future-of-fixing-stirs-debate-in-geneva/
https://splash247.com/future-of-fixing-stirs-debate-in-geneva/