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Iron ore futures prices fell on Friday to post a weekly loss, as a lack of concrete stimulus from top consumer China and weak seasonal demand for steel weighed on the market. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) DCIOcv1 ended daytime trade 0.19% lower at 804.5 yuan ($110.72) a ...
https://www.hellenicshippingnews.com/iron-ore-posts-weekly-loss-on-lack-of-china-stimulus-demand-outlook/China is facing an oversupply of soybeans as record high purchases boost stockpiles at a time when animal feed demand remains subdued, with prices of products such as soyoil and soymeal set to sink even lower. The soybean surplus also threatens to curb China’s appetite for imports in the September-December period, the peak marketing season ...
https://www.hellenicshippingnews.com/china-faces-soybean-glut-as-peak-us-export-season-nears/
https://www.hellenicshippingnews.com/china-faces-soybean-glut-as-peak-us-export-season-nears/The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, posted a weekly decline on Friday as rates for the capesize segment fell for the week. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 10 points, or 0.5%, to 1,902. The index ...
https://www.hellenicshippingnews.com/baltic-index-posts-weekly-loss-as-capesize-rates-fall/
https://www.hellenicshippingnews.com/baltic-index-posts-weekly-loss-as-capesize-rates-fall/Iron ore is one of the worst performing commodities so far this year. Prices are down about 20% year-to-date as demand by the biggest consumer, China, continues to face headwinds from the property sector while the global seaborne market remains in a surplus. Subdued demand the key driver Looking ahead to the third quarter, fundamentals ...
https://www.hellenicshippingnews.com/subdued-demand-to-pressure-iron-ore-prices/
https://www.hellenicshippingnews.com/subdued-demand-to-pressure-iron-ore-prices/China’s soybean imports from Brazil rose 2.2% in June from a year earlier, data showed on Saturday, as Chinese buyers scooped up lower-priced South American beans. The world’s biggest soybean buyer imported 9.72 million metric tons of the oilseed from Brazil last month, compared with 9.51 million tons a year earlier, data from the General ...
https://www.hellenicshippingnews.com/china-june-soy-imports-from-brazil-rise-2-customs-data-show/
https://www.hellenicshippingnews.com/china-june-soy-imports-from-brazil-rise-2-customs-data-show/Growing global demand for commodities and a sluggish newbuild market up until 2023 have set the stage for bullish growth in the bulker market in the coming years. Bulker owners are taking advantage of these favourable market conditions and starting to invest. International demand for dry cargo is increasing Although high interest rates and inflation ...
https://www.hellenicshippingnews.com/positive-outlook-for-bulkers-as-demand-outpaces-supply/
https://www.hellenicshippingnews.com/positive-outlook-for-bulkers-as-demand-outpaces-supply/Capesize It was only on Thursday that the Capesize 5TC climbed to positive territory and became closer to $25,000. But the correction or Friday eventually settled the week at $24,652. In the Pacific, there was more resistance from owners towards the end of the week, which pushed C5 to $9.725 in the end. Meanwhile, more ...
https://www.hellenicshippingnews.com/dry-bulk-market-capesize-market-on-correction-mode/
https://www.hellenicshippingnews.com/dry-bulk-market-capesize-market-on-correction-mode/Singapore shipyard group Seatrium has agreed to pay an additional $68m to settle a rig building dispute with Norwegian industrial investor Akastor. Akastor said in a filing on Oslo the sum would be paid as full and final settlement and booked in its Q2 financials. The case dates back to 2012 when Jurong Shipyard, now …
https://splash247.com/seatrium-reaches-68m-settlement-in-rigs-related-dispute/
https://splash247.com/seatrium-reaches-68m-settlement-in-rigs-related-dispute/Only days after Italian offshore engineering and construction giant Saipem won an $850m deal in Angola with Azule Energy, it won even bigger deals in the country with French major TotalEnergies. The three new contracts awarded by TotalEnergies will have an overall value of around $3.7bn. These awards come after TotalEnergies, along with its Block …
https://splash247.com/saipem-scores-big-with-3-7bn-in-angola-deals-from-totalenergies/
https://splash247.com/saipem-scores-big-with-3-7bn-in-angola-deals-from-totalenergies/Risto Kariranta and his start-up, Ahti, have developed a FuelEU calculator which has revealed some interesting stats. With views over the river Thames and London’s historic centre, the International Maritime Organization’s large roof terrace would be a great place to host a pool party on a sunny day. However, it’s from rules conceived in Belgium …
https://splash247.com/lilos-life-rafts-and-fueleu/
https://splash247.com/lilos-life-rafts-and-fueleu/