Australia’s resources and energy export earnings over the next two years are expected to take a hit due to softening global demand, particularly in its largest trading partner China, official forecasts showed on Tuesday. Commodity export earnings are forecast to fall to A$400 billion ($258.3...
https://www.hellenicshippingnews.com/china-slowdown-to-hit-australias-resources-export-earnings/
The return of Australian barley imports to China has brought a happy buzz to at least one industry – brewers of craft beers who are hoping for a much-needed reduction in costs. The last three years have not been good to China’s nascent craft brewing sector. First, the pandemic kept customers away...
https://www.hellenicshippingnews.com/chinas-craft-brewers-cheer-return-of-australian-barley-imports/
State-owned Steel Authority of India Ltd (SAIL), the largest steel producer in the country, is ensuring it has adequate coking coal stock through imports from Russia and will complete imports of 300,000 tonnes from Russia by the end of this month. The company is looking to bring in 3,00,000 tons of...
https://www.hellenicshippingnews.com/sail-to-get-coking-coal-from-russia/
Asia’s coal sector has gone from thinking they are in terminal decline as the world shifts to a net-zero carbon future to seeing themselves as being a part of the energy mix for decades to come, while raking in profits. The bullish narrative was on full display at the industry’s biggest gathering,...
Capesizes This week the cape market has been marked by varying levels of activity and changing sentiments. At the beginning of the week, the Pacific market showed promise for owners, with support from East Coast Australia coal cargo contributing to a positive outlook and two major players driving...
The impact on dry bulk shipping demand is likely to be minimal as the bilateral relations between Canada and India crumbled to an all-time low. The political row between Canada and India escalated last week, with both countries taking diplomatic actions to take a stance. The trade talks between the...
https://www.hellenicshippingnews.com/canada-india-row-navigating-the-downside-risks-to-dry-bulk/
The Brazilian iron ore market has improved during 2023, with exports on the rise, much to the delight of the dry bulk market. In its latest weekly report, shipbroker Banchero Costa said that “2023 has been so far a positive year for global iron ore trade. In Jan-Aug 2023, global loadings of iron...
https://www.hellenicshippingnews.com/brazils-iron-ore-exports-on-the-rise-in-2023/
Iron ore heads into a week-long Chinese holiday hiatus with prices elevated and mixed signals as to the strength of demand in the world’s largest importer of the steel-making raw material. Iron ore futures traded in Singapore SZZFc1 ended at $120.77 a metric ton on Thursday, up slightly from the...
https://www.hellenicshippingnews.com/iron-ore-prices-head-into-china-holidays-facing-downside-risks/
The Baltic Exchange’s dry bulk sea freight index, which tracks rates for ships ferrying dry bulk commodities, recorded its best quarter in nine on Friday, helped by stronger demand for all vessel segments. The main index has gained about 57% for the month, its best since September 2022, and also...
The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, snapped its four session-long winning streak on Thursday, pressured by lower rates for capesize vessel segment. The overall index, which factors in rates for capesize, panamax and supramax shipping...
https://www.hellenicshippingnews.com/baltic-index-snaps-4-day-winning-streak-as-capesize-rates-slip/