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China’s first quarter imports of iron ore and its domestic production of the steel raw material both rose strongly, but output of crude steel fell. This divergence sets up a dilemma that can be resolved in a number of ways, including lower iron ore imports, a boost to steel output or a sustained rise in ...
https://www.hellenicshippingnews.com/chinas-strong-iron-ore-imports-diverge-from-weak-steel-output/
https://www.hellenicshippingnews.com/chinas-strong-iron-ore-imports-diverge-from-weak-steel-output/“In the first quarter of 2024, global iron ore shipments rose 3.8% y/y on expectation of strong Chinese steel production which, however, failed to materialise. Iron ore supply has grown faster than Chinese demand which could lead to weaker shipments ahead,” says Filipe Gouveia, Shipping Analyst at BIMCO. During the start of the year, Brazilian ...
https://www.hellenicshippingnews.com/iron-ore-shipments-up-3-8-despite-weak-chinese-demand/
https://www.hellenicshippingnews.com/iron-ore-shipments-up-3-8-despite-weak-chinese-demand/According to the Capesize C3 South Atlantic overview provided in the image below, during the third week of April, there was a notable 4% decrease in ballast vessels bound for the South Atlantic, coupled with a significant surge of 72 vessels waiting to load. Analysis of forthcoming arrivals in the South Atlantic over the next ...
https://www.hellenicshippingnews.com/dry-bulk-market-capesize-c3-route-south-atlantic-overview-supply/The Baltic Exchange’s dry bulk sea freight index extended declines on Tuesday and touched its lowest level in a week, hurt by a slide in capesize vessel rates. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell by 78 points, or 4.1%, to 1,804 points, its lowest level since ...
https://www.hellenicshippingnews.com/baltic-index-hits-one-week-low-on-capesize-weakness/
https://www.hellenicshippingnews.com/baltic-index-hits-one-week-low-on-capesize-weakness/Oslo-listed OSV pure play Golden Energy Offshore Services (GEOS) is getting a new majority shareholder after Oaktree Capital Management offloaded its stake for $39.5m. Fleetscape, a fund managed by Oaktree and closely associated with GEOS chairman Fredrik Ulstein and board member Guillaume Bayol, has sold 39.03% of its holding, corresponding to nearly 196m shares in …
https://splash247.com/geos-gets-new-majority-shareholder-as-oaktree-sells-out/
https://splash247.com/geos-gets-new-majority-shareholder-as-oaktree-sells-out/Abu Dhabi-based ports and logistics giant AD Ports Group has secured a 20-year concession agreement for Angola’s Luanda multipurpose port terminal. The agreement, extendable for another 10 years, will see AD Ports invest $251m towards modernising the terminal and developing the logistics business over the next three years, potentially increasing to $379m over the concession …
https://splash247.com/ad-ports-earmarks-up-to-379m-for-angolan-port/
https://splash247.com/ad-ports-earmarks-up-to-379m-for-angolan-port/Greek shipping company Carras (Hellas) has received the ABS Biofuel-1 notation for its Aquataurus ultramax bulk carrier, the first vessel in the world to qualify.The notation is assigned to vessels that use a biofuel blend of up to and including…
https://www.marinelink.com/news/carras-secures-abs-first-biofuel-notation-513165
https://www.marinelink.com/news/carras-secures-abs-first-biofuel-notation-513165At least five people, including a child, died in an attempt to cross the English Channel from France, hours after Britain passed a bill to deport asylum seekers to Rwanda to try to deter the dangerous crossings.The deaths of one child, a woman…
https://www.marinelink.com/news/least-five-people-drown-trying-cross-513170
https://www.marinelink.com/news/least-five-people-drown-trying-cross-513170Offshore rig owner Noble Corporation has won two new deals for its Noble Venturer drillship offshore Africa. Following the early completion of the Tullow Oil campaign in Ghana, expected to end in late May 2024, the driller will relocate the drillship to Equatorial Guinea to drill three wells – two infill wells and one exploration …
https://splash247.com/noble-drillship-bags-two-contracts-in-africa/
https://splash247.com/noble-drillship-bags-two-contracts-in-africa/Greek owner Tsakos Energy Navigation (TEN) has confirmed the sale of an ageing aframax tanker as it continues its fleet renewal push. The New York-listed tanker and LNG carrier owner has offloaded the 2007 Sumitomo-built Izumo Princess for about $37m. The buyer was not named, but shipping databases show the 105,500 dwt vessel under ownership …
https://splash247.com/ten-offloads-veteran-aframax-as-fleet-renewal-presses-ahead/
https://splash247.com/ten-offloads-veteran-aframax-as-fleet-renewal-presses-ahead/