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Iron ore futures prices rose to a more than one-week high on Thursday, buoyed by top producer Rio Tinto’s optimistic demand outlook for top consumer China and continued hopes of more stimulus from the world’s second-largest economy. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 2.35% higher at ...
https://www.hellenicshippingnews.com/iron-ore-rises-to-more-than-1-week-high-on-upbeat-demand-outlook-china-stimulus-hopes/This week’s chart illustrates the increase in the monthly volume of Brazilian iron ore shipments during May, June, and July this year, following a notable drop recorded during the first quarter. In July, there was a 13.4% increase in the monthly quantity of iron ore sent from Brazil to China compared to the same month ...
https://www.hellenicshippingnews.com/dry-weekly-market-monitor-ukrainian-grain-shipments-to-all-destinations/Supply/demand balance We expect the supply/demand balance to strengthen in 2024 but weaken in 2025. Supply is estimated to grow by 3-4% in 2024 and 1.5-2.5% in 2025, while demand is projected to grow by 4.5-5.5% in 2024 and weaken by 1-2% in 2025. Freight rates are expected to stay strong during the rest of ...
https://www.hellenicshippingnews.com/bimco-expects-the-supply-demand-balance-to-strengthen-in-2024-but-weaken-in-2025/The Baltic Exchange’s dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, dropped to a more than three-month low on Thursday, dragged down by weakness across all vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 40 points, or 2.3%, to 1,668, ...
https://www.hellenicshippingnews.com/baltic-index-hits-over-three-month-low-as-rates-for-all-segments-drop/Demand for seaborne iron ore imports from China, could be heading for a slowdown in the coming weeks and months. In its latest weekly report, shipbroker Xclusiv said that “the iron ore market is navigating a complex landscape, with important factors prevailing such as weakening of the Chinese demand growth, evolving steel mill margins, and ...
https://www.hellenicshippingnews.com/dry-bulk-shipping-land-based-competition-could-hurt-seaborne-iron-ore-demand/Investors advised by JP Morgan Asset Management have acquired US shipping and logistics firm Bold Ocean from private equity firm Nova Infrastructure for an undisclosed sum. Annapolis, Maryland-based Bold Ocean operates nine vessels that transport goods under long-term charter with the US government. In 2018, a group of companies in US flag shipping, fleet technical …
https://splash247.com/jp-morgan-takes-over-us-carrier-bold-ocean/
https://splash247.com/jp-morgan-takes-over-us-carrier-bold-ocean/The landscape of China is changing on a scale hard to fathom to outsiders with renewable energy projects stretching across vast terrains, and in the process altering the fortunes for dry bulk owners. China’s investments in renewables are gigantic, leading the world in wind and solar, with twice as much capacity under construction as the …
https://splash247.com/chinas-wind-and-solar-capacity-overtake-coal-for-the-first-time/
https://splash247.com/chinas-wind-and-solar-capacity-overtake-coal-for-the-first-time/French engineering firm GTT has received two orders from its Korean partner HD Korea Shipbuilding & Offshore Engineering (HD KSOE) to design the cryogenic fuel tanks for 12 new LNG-fueled container vessels on behalf of CMA CGM.Under these new orders…
https://www.marinelink.com/news/gtt-books-tank-design-orders-cma-cgms-lng-515605
https://www.marinelink.com/news/gtt-books-tank-design-orders-cma-cgms-lng-515605Transport and logistics insurer TT Club announced Thursday that Kevin King has stepped into the role as CEO, succeeding Charles Fenton effective August 1.Originally based in the U.S., King has long held positions within Thomas Miller managed businesses…
https://www.marinelink.com/news/kevin-king-takes-tt-club-ceo-515607
https://www.marinelink.com/news/kevin-king-takes-tt-club-ceo-515607Maritime air lubrication company Silverstream Technologies has opened its new Global Operations Center in Southampton, U.K., in an effort to enhance its operational capabilities and support the existing fleet. The new hub, which accommodates more than 40 employees…
https://www.marinelink.com/news/silverstream-opens-operations-center-uk-515609
https://www.marinelink.com/news/silverstream-opens-operations-center-uk-515609