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Australian iron ore supplier embraces Chinese market with yuan settlement

Australian iron ore conglomerate BHP hailed on Sunday its first shipment of yuan-based spot trade iron ore to dock at a port in East China’s Shandong Province, as Australian companies step up efforts to maintain businesses in the Chinese market amid tense bilateral relations due to Australia’s hostile approach toward China. The vessel Vittoria loaded with iron ore from a mine in Western Australia arrived at Rizhao port, China’s major iron ore trading port, on Sunday, two-weeks after departing Port Hedland, according to a BHP statement on Sunday. The arrival ...

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VEGOILS-Palm tumbles over 6% on weak outlook for exports, China lockdown fears

Malaysian palm oil futures plunged more than 6% on Wednesday due to weak July exports and as fears of renewed COVID-19 curbs in China sparked a selloff in rival Dalian oils. The benchmark palm oil contract FCPOc3 for September delivery on the Bursa Malaysia Derivatives Exchange slid 276 ringgit, or 6.71%, to 3,840 ringgit ($866.62) a tonne by the midday break. Malaysia’s palm oil stocks at end-June rose to their highest in seven months as its exports were throttled by rival Indonesia’s policies to boost its own shipments, industry regulator ...

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Soybeans, corn extend losses to hit one-week lows; wheat rebounds

Chicago soybean and corn futures slid for a second session on Wednesday to a one-week low, as a U.S. government forecast of lower demand and higher production weighed on prices. Wheat gained ground after Tuesday’s losses, but hopes of resumption in exports from war-torn Ukraine limited gains. The most-active soybean contract on the Chicago Board of Trade Sv1 (CBOT) was down 0.8% at $13.31-3/4 a bushel, as of 0217 GMT, and corn Cv1 lost 0.4% to $5.84 a bushel. Both markets hit their lowest levels since July 6. Wheat Wv1 ...

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Weekly Vessel Valuations Report, July 12 2022

Bulkers: Older Panamax values have firmed

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Capesize gains buoy Baltic sea freight index

The Baltic Exchange’s main sea freight index edged up on Monday as a rise in capesize rates offset drops in the panamax and supramax segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 14 points, or 0.7%, to 2,081 points. The capesize index rose for the third straight session, gaining 95 points, or 4.2%, to 2,365 points, its highest since July 1. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, rose$788 to $19,613. India’s coal ...

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PSC Concentrated Inspection Campaign starting on 1 September

Every year, the PSC regimes focus on a specific area for a three-month period. This CIC is commonly initiated by the Paris and Tokyo MoUs and will be joined by the majority of other PSC regimes. In addition to the regular PSC inspection items, a separate questionnaire will be used by the Port State Control Officers (PSCOs). This questionnaire will be published by the PSC regimes in early-August to allow owners and crews to be prepared. Once the questionnaire is published, we will issue an additional news. Finally, we often ...

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There’s still over $40B in cargo on container ships waiting offshore

Anchorages continue to fill with waiting container ships off East and Gulf Coast ports, where vessel queues have now far outgrown those off the West Coast. Along all three coasts combined, the number of waiting container vessels remains exceptionally high. There were 125 container ships waiting off North American ports on Friday morning, according to an analysis of ship-tracking data from MarineTraffic and queue numbers from California. That’s down 16% from 150 waiting ships in January, when West Coast congestion peaked, but up 36% from 92 ships a month ago. ...

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MABUX: Global bunker indices to be mainly stable on Jul.12

MABUX World Bunker Index (as index calculated on current prices for 380 HSFO, VLSFO and MGO in the main world hubs) did not have any firm trend and changed irregular om July 11: 380 HSFO – USD/MT – 668.08 (-2.69) VLSFO – USD/MT – 1 006.87 (-9.61) MGO – USD/MT – 1 287.40 (+0.52) MABUX MBP/DBP Index (MDI) (comparison of market bunker prices vs. MABUX digital bunker price benchmark) on July 11 gradually shifted towards underestimation zone of bunker fuel. 380 HSFO fuel grade was underpriced in all four selected ...

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AIP Issued for Large LCO2 Carrier with LNG Fuel

As a way of tackling global climate change, the ‘CO2 Capture, Transport, and Burial’ method has attracted attention as an intermediate step to achieving carbon neutrality. This has led to increased demand for technology for LCO2 carriers which can safely transport carbon dioxide captured in the supply chain. Transporting CO2 in a liquid state requires a pressure C-Type cargo tank capable of withstanding a high vapor pressure of over 5 atmospheres or greater. However, this type of cargo tank is usually used for smaller carriers and there are technical difficulties ...

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Unifeeder chooses ZeroNorth for full suite of optimisation services

Technology company ZeroNorth has today announced that it has signed a three-year deal with Unifeeder A/S, the leading logistics company with the largest feeder and shortsea network in Europe. The deal will see Unifeeder implement the full suite of services included in ZeroNorth’s platform, as well as ClearLynx’s bunker solution, as part of the company’s ambitious decarbonisation efforts and green agenda strategy. The partnership with ZeroNorth will give Unifeeder’s fleet full transparency over voyage planning, access to industry-leading voyage optimisation with integrated weather routing, as well as bunker, vessel, and ...

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Swire Projects expands MPP fleet

Swire Projects (the Projects business unit of Swire Shipping Pte. Ltd.) has entered into a long-term agreement with shipowner R. Braren for the charter of three handysize multipurpose (MPP) vessels. These vessels will service customer requirements in “bluewater” trades, carrying project, breakbulk and unitised cargoes. This follows the deal announced in November 2021 for the long-term charter of six MPP heavy lift vessels with Nordic Project and Finance. Namir Khanbabi, General Manager of Swire Projects, said this latest charter arrangement “fits with the plan to expand our MPP fleet in ...

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Russia’s July wheat exports seen modest amid logistics problems

Russian wheat exports are expected to remain muted in July despite lower export tax, a massive crop and a weakening rouble RU/RUB as problems with logistics and trade finance caused by Western sanctions persist. The world’s largest wheat exporter is expected to have record amounts of the crop available to supply abroad in the July-June marketing season, and reduced grain export taxes sharply on July 1 to support shipments. The IKAR agriculture consultancy said on Monday that it downgraded its forecast for Russia’s July wheat exports to 1.7-2.0 million tonnes ...

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Trade Review: Turnaround in Asian scrap market in Q3 hinges on China’s steel demand

Asian seaborne scrap prices are expected to remain under downward pressure in the third quarter after retreating through Q2 from the multi-year highs reached in the wake of Russia’s invasion of Ukraine in late February. Despite the bearish outlook stemming from weak steel demand expectations, market participants said a pickup in China’s steel demand and geopolitical tensions were key factors that would decide whether scrap prices could rebound. Asian scrap prices have been on a downward correction since April on mounting end-user resistance to further hikes in steel prices. The ...

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Monthly Report of Ship Auction Market in China – June 2022

Monthly Report of Ship Auction Market in China – June 2022

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Breakdown of weekly ship sales by type 4th – 10th July 2022

In the following table you will find the total ship sales for last week.

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