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Chinese iron ore and steelmaking prices October 23 2018

Iron ore futures market remained fluctuation today. Iron ore spot price at ports quoted RMB3-5/tonne higher than that of last Friday.

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Tanker Market Rates 23/10/2018

Daily rates on main tanker routes as compiled by shipbroker Charles R. Weber.

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Dryships Lowered To Hold At Bidaskclub

BidaskClub cut shares of DryShips (NASDAQ:DRYS) from a buy rating to a hold rating in a research note issued to investors on Tuesday, October 9th. Separately, ValuEngine cut shares of DryShips from a sell rating to a strong sell rating in a research report on Monday, June 18th. The company had a trading volume of 361,251 shares, compared to its average volume of 859,206. DryShips has a 1 year low of $2.74 and a 1 year high of $6.90. The company has a quick ratio of 4.25, a current ratio ...

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Rhine levels in Basel too low for container ships

As unseasonably warm and dry conditions persist, container ships are no longer able to move in and out of Switzerland’s key port on the Rhine, in Basel. Since Friday, the port in northern Switzerland has been forced to suspend the movements of container ships due to persistent low water levels. Heinz Amacker, head of the Danser Schweiz shipping company, told public broadcaster SRF that he had never seen such a situation before; all eight of his vessels remain docked and immobile. According to SRF, which also reported on the growing ...

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V.Ships Leisure wins Amver award for outstanding seamanship

Safety is at the heart of everything we do here at V.Group. Last night this was on full display at the Safety at Sea Award ceremony in London where V.Ships Leisure won an Amver award for their involvement in a search and rescue mission that saved the lives of six people. The crew onboard the passenger vessel used during the mission were awarded the prestigious accolade for outstanding seamanship in recognition of the exemplary skill and tenacity they displayed when rescuing the six endangered seafarers. The crew were quick to ...

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Pyxis Tankers Inc (PXS) Receives Average Rating of “Strong Buy” from Brokerages

Pyxis Tankers Inc has earned a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation. Analysts have set a 12 month consensus price target of $2.50 for the company and are expecting that the company will post ($0.08) EPS for the current quarter, according to Zacks. Zacks has also assigned Pyxis Tankers an industry rank of 149 out of 255 based on the ratings given ...

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Iran: Port Services Offered at Cheaper Exchange Rates

All Iranian exporters and importers can now employ cheaper foreign currency rates used in the government’s system for registering trade when using maritime and port services. “By reviewing the rates of port services, which had begun in the organization about three weeks ago to manage the impacts of currency fluctuations on maritime and port services, a new tariff was finally agreed upon last week,” Mohammad Ali Hassanzadeh, the deputy head of Ports and Maritime Organization, was quoted as saying by the official website of the organization. Source: Financial Tribune

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CLARKSON PLATOU HELLAS S&P WEEKLY BULLETIN

NEW BUILDING: A couple of new orders in LNG, firstly with Dalian Shipbuilding announcing an order from Xinao Energy Shipping

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Russia: in January-September, the Seaports Shipped Over 42 mln Tonnes of Grains

In January-September of 2018, the seaports of Russia increased grain shipment volumes by 36.2% compared with the same period last year — to 42.7 mln tonnes, announced the Association of Sea Commercial Ports of the Russian Federation. In particular, the ports increased mineral fertilizers transshipment by 2.9% — to 13.3 mln tonnes. For the first 9 months of 2018, the general cargo turnover in the Russian seaports grew by 4% compared with the same period in 2017, and totaled 604.2 mln tonnes. According to the announcement, the export cargo shipment ...

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Russia’s Surgut to sell 1.2 mln T of Urals crude oil from Baltic ports in H1 2019

Russia’s Surgutneftegaz has called a tender to sell 1.2 million tonnes of Urals crude oil for loading from Baltic ports in January-June 2019, traders said. The tender closes on Oct. 23 at 1400 Moscow time (1200 GMT). The tender results will be announced on Oct. 26 The tender documents include the option of settling payments in euros by sellers’ choice, sources told Reuters. Surgutneftegaz is pushing buyers to agree to pay for oil in euros instead of dollars if the need arises, apparently as insurance against possible tougher U.S. sanctions, ...

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German steel sector warns against abrupt halt to coal-fired power

An abrupt end to coal-fired power generation in Germany would damage the steel industry’s competitiveness by pushing up electricity prices, the head of the country’s steel association warned on Monday. Hans Juergen Kerkhoff said he expects rising power prices from a hasty withdrawal from coal to lead to additional electricity costs of between 140 million euros and 220 million euros ($161 million to $253 million) a year for the steel industry. Germany has tasked a commission with creating a roadmap for phasing out coal as an energy source, similar to ...

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Will The U.S. Coal Decline Continue?

What’s Trump’s new coal proposal? Adding to its controversial plan to leverage federal authority to keep retiring baseload coal (and nuclear) plants online, the Trump administration now has another proposal to help these energy sources on the grounds of national security: use U.S. West Coast military installations for exporting coal (and LNG). The West poses a particular challenge for the administration’s coal goals because the states there have stringent environmental rules and opposition to coal that means serious pushback against anything “pro-coal.” This explains why the goal to export Powder ...

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GRAINS-Soybeans fall to near two-week low as U.S. exports slow

U.S. soybean futures fell for a third session in a row to hit a near two-week low on Monday as a trade war between Washington and China depressed demand for North American supplies. FUNDAMENTALS * The most active soybean futures on the Chicago Board Of Trade were down 0.1 percent at $8.56 a bushel by 0119 GMT, near the session low of $8.55-1/2 a bushel – the lowest since Oct. 11. Soybeans closed down 0.8 percent on Friday and 2.5 percent in the session before. * The most active corn ...

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Oil Edges Up as Iranian Sanctions Approach

Oil prices ticked up Monday morning, as the market refocused on looming U.S. sanctions on Iran’s oil industry that are expected to squeeze supply. Brent, the global benchmark, was up 0.3% to $80.02 a barrel on London’s Intercontinental Exchange. On the New York Mercantile Exchange, West Texas Intermediate futures were trading up 0.5% at $69.47 a barrel. Brent had last week fallen to its lowest level in about a month, slipping below $80 a barrel, as investors digested news of weakening global oil demand. Earlier in October, the benchmark breached ...

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Oil’s Plunge Has Investors Cutting Their Bullish Bets

Enthusiasm for oil is at its worst in a year as global financial woes and rising U.S. stockpiles dim the demand outlook. Hedge funds cut bets on rising West Texas Intermediate crude prices for a sixth straight week, to the lowest since October 2017. Total wagers, long or short, were near the lowest in two years. Before a slight rebound on Friday, the U.S. benchmark sank 10 percent in little more than two weeks. “There are growing concerns in the market about demand growth stalling and that you could see ...

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