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Commodities

BHP cuts 2018 iron ore forecast, cites rail car upload problems

MELBOURNE (Reuters) - BHP Billiton Ltd cut its 2018 fiscal year iron ore output guidance on Thursday citing issues in its railroad car unloading system, while also slightly raising its copper output expectations given higher production at the Escondida mine. Read more

U.S. customers scramble to replace Rusal metal after sanctions

NEW YORK (Reuters) - U.S. customers of Rusal are scrambling to figure out how to replace supply from the Russian company after U.S. sanctions on the world’s second-largest aluminum producer caused prices to spike to a seven-year high, the companies and metals analysts said. Read more

Cold weather may cap U.S. corn acres, but what about yield?: Braun

CHICAGO (Reuters) - Unless yields soar to never-before-seen highs, the United States this summer will certainly harvest the smallest corn crop in three years since the production volume may not be padded by a boost in plantings. Read more

Australia's 2018-19 wheat production forecast at 24 mil mt: USDA

Australia is forecast to produce 24 million mt of wheat during the 2018-2019 (October-September) harvest year, up 11.63% from last season's harvest of 21.5 million mt, the US Department of Agriculture attached report released Tuesday showed. Read more

Argentina's steel imports jump 58.1% on year in 2017: CAA

Argentina's finished steel imports jumped 58.1% year on year in 2017 to 1.02 million mt from 646,000 mt in 2016, trade association Camara Argentina del Acero (CAA) said Wednesday. Read more

Prices for aluminum raw material alumina surge after Rio Tinto force majeure

MELBOURNE (Reuters) - Prices of alumina, the raw material for making aluminum, have surged after Rio Tinto said it could not fulfil supply contracts because of U.S. sanctions on United Company Rusal, adding to a crunch rippling through the aluminum supply chain. Read more

Freight Logistics

European shipowners welcome the proposed EU trade agreements with Japan and Singapore

The European Commission today presented trade agreements with Japan and Singapore to the Council to eventually be adopted. The European shipowners are very pleased that the first step towards the conclusion of these agreements has been taken. “With Japan and Singapore agreements Europe sends a strong message to the world in support of fair and regulated trade”, said ECSA’s Secretary General Martin Dorsman. Read more

It’s a battle of old vs. new for autonomous supremacy

The race to develop the first commercially available autonomous vehicle has been building for several years, and it doesn’t seem to be slowing, based on a Morgan Stanley analysis of the marketplace following a visit to recent 2nd VDI Autonomous Truck Conference in Dusseldorf, Germany, by company representatives. Read more

Freight demand remains strong as manufacturing and construction activity picks up

Demand for freight is likely to remain strong in the economy, as the manufacturing and construction sectors continue to see solid gains. Read more

China-U.S. ocean freight rates have fallen for the 32nd straight week: Freightos Report

Data gathered from a Freightos report shows that the China-U.S. ocean rates have been hitting noticeable lows from the start of this year. The fall in prices is even more relevant when compared with the prices that held up last year - year-on-year rates have been falling for the 32nd straight week. The current rate of the China-U.S. West Coast is 26% lower compared to 2017, and the China-U.S. East Coast has recorded a 19% lower rate against last year. Read more

Blockchain Is About to Revolutionize the Shipping Industry

Globalization has brought the most advanced trading networks the world has seen, with the biggest, fastest vessels, robot-operated ports and vast computer databases tracking cargoes. But it all still relies on millions and millions of paper documents. Read more

Road freight transport: Hubs ‘about right mode for load’

Intermodal freight terminals are increasingly seen as solution for reducing cost, time and trouble for clients, hauliers and the community, especially for swapping cargo between rail and road modes. Read more

Commodities

U.S. Commerce Department finds aluminum sheet imports from China subsidized

WASHINGTON (Reuters) - The U.S. Commerce Department said on Tuesday it has made a preliminary determination that common alloy aluminum sheet imports from China are being subsidized, and set countervailing duties of up to 113 percent. Read more

Rio Tinto flags changes to 2018 aluminum output after U.S. sanctions

MELBOURNE (Reuters) - Global miner Rio Tinto on Wednesday flagged possible changes to its 2018 aluminum output following U.S. sanctions on its Russian partner Rusal earlier this month. Read more

Brazil's Usiminas plans to raise steel prices, reopens furnace

IPATINGA, Brazil (Reuters) - Brazilian steelmaker Usinas Siderurgicas de Minas Gerais SA reactivated a blast furnace on Tuesday and announced plans to raise domestic steel prices in June, but executives warned that new investment would depend upon political developments. Read more

Dairyland Power Cooperative says coal stocks slightly above average

Coming out of a long, cold winter, stockpiles at Dairyland Power Cooperative's two coal-fired power plants near Genoa and Alma, Wisconsin, remain "slightly above target" for this time of year, a spokeswoman for the La Crosse-based generation and transmission co-op said Tuesday. Read more

Grains – Wheat firms after sharp drop, soybeans and corn also firm

HAMBURG, April 17 (Reuters) - Chicago wheat futures rose on Tuesday on bargain-buying after falling 2 percent in the previous session, with the market shrugging off a U.S. Department of Agriculture (USDA) report saying the state of U.S. winter wheat is improving. Read more

Egypt aims to import 7 million tons of wheat in 2018-2019

CAIRO, April 17 (Reuters) - Egypt, the world's largest buyer of wheat, is planning to import 7 million tonnes of the grain in the 2018 2019 financial year, according to a budget proposal document seen by Reuters. Read more

Freight Logistics

Shipping and CO2 emissions

The recent meeting of the International Maritime Organisation (IMO) that was intended to discuss the issue of reducing the amount of CO2 that commercial ships emit into the World’s atmosphere was hijacked by the Global Warming crowd resulting in the IMO demanding that shipping reduces its CO2 emissions by 50% by 2050. Read more

Dry Bulk FFA: Panamax In Bearish Territory

Price action in the Panamax index has now entered bearish territory on the daily chart. However, the longer-term picture would suggest we have been in a technical range for the last 7 months with range support at USD 9,856. Read more

Newbuilding Focus Turns to Bulkers

The tide has turned in the newbuilding market this week, as the focus seems to be the dry bulk segment, as opposed to tankers, which “stole the day” last week. In its latest weekly report, shipbroker Allied Shipbroking said that “we are still seeing a fair amount of activity take place this week, albeit that much of the volume was expressed through deals involving an increased number of firm and optional units. Things seemed to have scaled back in terms of orders being placed in the tanker sector, although we are still seeing a few deals trickle through and there still seems to be interest holding amongst some buyers. Read more

Shippers expect volume, pricing increases to continue

Tighter capacity and more freight to move are among the highlights of the latest Morgan Stanley Freight Pulse 49 survey. Shippers, though, are retreating from their rosy view of the economy, dropping to a survey reading of 7.3 on the state of the economy. The last reading, in June 2017, was 7.4. Morgan Stanley notes that the reading is still the second-highest on record, though. Read more

FTR's Trucking Conditions Index has never been higher

FTR’s Trucking Conditions Index (TCI) for February reflects an environment for carriers that has never been better. Read more

Bigger profits in freight, consolidating truck makers, tariffs shifting supply chains

U.S. freight operators appear to be on the cusp of one of their most profitable periods in years. J.B. Hunt Transport Services Inc. JBHT -0.48% reported a 15% boost in first-quarter net profit and the a 20% gain in revenue, WSJ Logistics Report’s Jennifer Smith writes, a sign in the first logistics earnings report of the season that operators are seeing strong shipping demand drive growth to the bottom line. Read more

Commodities

Coffee industry worried U.S. ruling on cancer warning may widen

MEXICO CITY (Reuters) - The head of the International Coffee Organization criticized a U.S. judge’s decision requiring cancer warnings on coffee sold in California by Starbucks and other retailers, expressing concern that the push for cancer labels may spread. Read more

Chinese iron ore off 10-mth low on March output data

BEIJING, April 17 (Reuters) - China’s iron ore futures recouped some losses after hitting a 10-month low on Tuesday as market sentiment was lifted by upbeat steel output data for March despite smog restrictions imposed by Beijing. Read more

UK aluminum packaging recycling rates up in 2017: Alupro

The recycling rate for aluminum drinks cans continued to increase year on year in 2017, hitting 72%, up from 70% in 2016, while the national recycling rate for all aluminum packaging reached 51%, up from 50% in 2016, industry group Alupro said Monday. Read more

About 3% of intended US corn acreage planted: USDA

A total of 3% of the intended US corn acreage had been planted through Sunday, the Department of Agriculture said in its weekly crop progress report after Monday's market close. Read more

More than half of early spring grains planted in Ukraine

KIEV, UKRAINE — Ukrainian farmers have sown 1.2 million hectares of early spring grains, or 51% of total area, according to an April 16 report from Reuters. Read more

COLUMN-Rusal sanctions shockwaves slam into aluminium market: Andy Home

LONDON, April 16 (Reuters) - The aluminium market has never experienced anything like it. Read more

Freight Logistics

Dry Bulk Prices Up by 18% in March

Despite the fall in activity in the S&P market for dry bulk carriers compared to 2017, prices have continued to edge higher. Read more

China’s Q1 imports of major commodities lose some momentum

China’s imports of major commodities may be losing some of their strong growth momentum, with gains in the first quarter of this year failing to keep pace with those from the same period in 2017. Read more

Dry Bulk FFA: Capesize Market Finds Support

The Capesize index held at the Fibonacci support last week and is now testing the 21 period EMA. Read more

Who should pay the cost of empty containers?

The policy of shipping lines directing empty containers to be de-hired to wharf terminals and at-wharf receival facilities continues to increase. These policies will deliver significant cost savings to all shipping lines utilising these practices, however, their application has resulted in additional costs for container transport operators that should be recovered in the commercial marketplace. Read more

First Germany-UK Channel tunnel rail service

The service is operated for CMA CGM Logistics by GB Railfreight, now part of Sweden’s Hector Rail, and Transfesa, which is part of DB Cargo through Euro Cargo Rail, initially on the one return trip per week, with the potential to reach six returns per week in the future. Read more

How a Newcastle container terminal would save $6bn +

Any legal action by the ACCC to reverse the anti-competitive Port of Newcastle container fee could take years, now that it has started looking into it. Read more

Commodities

Aluminum risks supply shortage over Russia, Brazil woes: Hydro CEO

OSLO (Reuters) - The global aluminum market risks facing supply shortages over U.S. sanctions against Russia as well as Norsk Hydro’s production cutbacks in Brazil, Hydro’s chief executive told Reuters on Monday. Read more

A UPDATE 1-China's iron ore, steel sink; investors shrug off low inventories

BEIJING, April 16 (Reuters) - China’s iron ore futures dropped in line with steel rebar futures on Monday, despite the reduction in stockpiles, while concerns over leaner downstream demand weighed on sentiment. Read more

Grains – Wheat Drops to 10-Day Low as U.S. Weather Outlook improves

SINGAPORE, April 16 (Reuters) - Chicago wheat futures slid 1 percent on Monday to a 10-day low as forecasts of rains across key U.S. winter crop areas eased fears about yield losses following a severe drought. Read more

Russian wheat exports up 40% in marketing year to date at 31.8 mil mt

Russian wheat exports in the 2017-18 (July-June) marketing year to date are 40.4% higher than at this point last year at 31.769 million mt, data from the ministry of agriculture showed Monday. Read more

Global bauxite production to grow – BMI Research

Mining com reported that a new report issued by BMI research states that global bauxite production growth will accelerate over the coming years as new projects come online in Australia, India's production ramps up, and Indonesia re-enters the market following the end of the mineral ore export ban. Read more

Tokyo Steel to keep product prices steady in May

TOKYO, April 16 (Reuters) - Tokyo Steel Manufacturing Co Ltd , Japan’s top electric-arc furnace steelmaker, on Monday said it would hold product prices steady in May due to slow local demand. Read more

Freight Logistics

Dry Bulk: Capesize Market Gathers Momentum

Sentiment gathered momentum during the week and rates for the main C5 route improved over $1 to currently stand at almost $6.40, with market talk of fixtures, perhaps around $6.50 level, not yet substantiated.  Read more

US coal finding its way into Europe, Mediterranean markets

Shrinking Indian demand is forcing US coal into Europe and the Mediterranean as South African and Colombian coal seeks a home in more lucrative Asian markets, trade sources said. Read more

China March rail freight volume rise 5.6 percent from a year ago

(Reuters) - China’s rail freight volume in March increased 5.6 percent from a year ago to 339.72 million tonnes, the National Bureau of Statistics said on Monday. Read more

U.S. and Iran Agree on One Thing: No Emission Cuts From Ships

The U.S., Iran, and Russia were among a group of nine countries who objected to a deal to cut emissions from the global shipping industry by at least 50 percent by 2050. Read more

ELD Mandate Enforcement Spurs Soaring Freight Rates

A robust economy coupled with enforcement of the electronic logging device mandate are causing rates to soar. Read more

Oklahoma proposal would significantly change trucking regulation. Why is it being pursued?

Legislation that would move regulation of trucking in Oklahoma away from the Oklahoma Corporation Commission and on to the Department of Public Safety is raising eyebrows in the state, and with no clear explanation as to the goal in the shift. Read more

Commodities

As Aluminum Rises, Brazil Ponders Fate of Key Ingredient Maker

The largest plant for a key aluminum ingredient will know within a month whether it can go back to full production, as a partial shutdown adds further uncertainty to a market rattled by Russian sanctions. Read more

White sugar climbs off 2-1/2-year lows, cocoa edges lower

White sugar futures on ICE edged higher on Thursday, as light buying lifted prices from 2-1/2-year lows touched a day earlier, while cocoa turned lower in rangebound dealings as prices hovered beneath recent highs. Read more

Aluminum Set for Best Week in Three Decades

Aluminum prices are heading for the best week in at least three decades as U.S. sanctions on Russian producer United Co. Rusal send buyers scrambling to find supplies. Read more

Asia open-spec naphtha market to test 90-day limit on quantity adjustment payment

Participants of the open-spec naphtha contract in Asia agreed Thursday to put a time limit of 90 days from the discharge date of cargoes for the payment of any quantity adjustment of those cargoes, and to undertake a one-year trial to test the feasibility of this time frame. Read more

Michael Bloomberg Takes on the Coal Industry

On Monday afternoon, Michael Bloomberg, the billionaire businessman and former three-term mayor of New York City, escaped to a deserted ballroom at the Grand Hyatt, in midtown Manhattan, to talk about climate change. Read more

Pacific Basin sees positive market ahead, warns of some volatility

Minor bulks specialist Pacific Basin Shipping (PacBasin), a vocal advocate of greater control in newbuilding orders, has seen some recovery in freight rates in the first quarter as a result of slower growth in global dry bulk capacity but also warned of some volatility along with the positive market outlook ahead. Read more

Freight Logistics

Baltic Index Rises on Firmer Large Vessel Rates

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, gained on Thursday on higher rates for larger vessel segments. Read more

China steel, iron ore edge up as risk appetite returns

Chinese steel and iron ore futures rose on Friday as the appetite for risky assets returned after U.S. President Donald Trump backtracked on his suggestion of an imminent missile attack on Syria and was now keen on rejoining a trade pact. Read more

China records a rare trade deficit of $4.98 billion in March as exports fall 2.7%

China's March exports unexpected fell 2.7 percent from a year earlier, the first drop since February last year, while imports grew 14.4 percent, more than expected, customs data showed on Friday. Read more

DAT Freight Index: Spot Market Truckload Volume Sets Record in March, Driven by Demand for Flatbeds

Spot truckload freight availability rebounded in March, to set a new 20-year record for the DAT North American Freight Index. Read more

Trade war backfire: Steel tariff shrapnel hits US farmers

Lucas Strom, who runs a century-old family farm in rural Illinois, canceled an order to buy a new US$71,000 grain storage bin last month: after the seller raised the price 5 percent in a day. Read more

London aluminium eyes biggest weekly jump in 38 years on Rusal sanction

London aluminium slipped on Friday but was on track for its biggest weekly gain on record after the United States imposed sanctions on Russia's UC Rusal, the world's second biggest producer of the metal, raising supply concerns. Read more

Commodities

Trump’s new NAFTA should make copper a priority

President Donald Trump has prioritized two policy areas with profound impact on the national economy as well as national security: trade and critical minerals. Read more

Copper goes from hero to zero for the money men

The record long holding amassed by fund managers on the CME's COMEX copper market last August is becoming an increasingly dim and distant memory. Read more

London zinc slides to 4-mth low on slow pick-up in China steel demand

London zinc fell to a four-month low on Thursday, tracking the prices of other steel materials as construction demand in China got off to a slow start in the usually strong second quarter. Read more

Chinese steel outlook cools as metal gives up gains

With benchmark steel prices down by a fifth from last year's high, Chinese steelmakers coming off an earnings rebound already appear to be losing steam, belying industry leaders' bullishness in the face of U.S. tariffs. Read more

Wheat falls 1 pct as USDA forecasts record supplies

U.S. wheat futures fell 1 percent on Thursday after the U.S. Department of Agriculture raised its forecast for world supplies, easing fears about potential supply issues in the world's No. 1 exporter.     Corn was unchanged, while soybeans edged higher. Read more

Chocolate forests: Can cocoa help restore the Amazon?

For years, Valdomiro Facchi has made a living ranching on land carved from the Amazon rainforest. He’s a small player in one of the world’s biggest environmental disasters. Read more

Freight Logistics

Aluminum, steel tariffs driving up raw material costs for trucks, trailers

President Donald Trump’s America First agenda has hit some recent criticism with his approach to tariffs and trade policies, with critics saying the tariffs on steel and aluminum imports could ultimately raise the costs of goods made in the U.S. Read more

EDP bullish on U.S. renewable power despite Trump's support for coal

EDP-Energias de Portugal is optimistic about renewable power investments in the United States, despite President Donald Trump’s push to support coal and nuclear power plants and a tariff his administration slapped on imported solar panels, its chief executive said in an interview. Read more

Dry Bulk Recovery Potentially on Hold on Trade War Fears

When shipping analysts were looking into 2018 with a glooming optimism regarding the dry bulk market’s recovery prospects, on the back of a solid 2017 and positive fundamentals, they couldn’t have foreseen, that the improbable factor which could come into play and reverse all this upwards momentum, would be a full-on trade war, between the world’s two biggest economies, the US and China. Read more

Dry Bulk FFA: Capesize Index Still Looking for Momentum

Capes lost value yesterday morning with April trading down to $8750 and q3 $16200 before finding some buy support. Cal 19 also sold down to 16500 in thin volume. Read more

Fitch: Shipping Can Manage US-China Tariffs, But Risks Rising

Container and, to some extent, dry bulk would probably be the shipping segments most affected by the recently announced US and China tariffs, Fitch Ratings says. Read more

LME aluminium stocks jump by nearly 100,000 T after Rusal sanctions

Aluminium inventories in warehouses certified by the London Metal Exchange (LME) surged by nearly 100,000 tonnes in one day, data showed on Thursday, in a move traders and analysts said was sparked by Russian producer Rusal being hit by U.S. sanctions. Read more

Commodities

China iron ore retreats amid worries over steel margins

MANILA (Reuters) - Iron ore futures in China shook off early gains to end lower on Wednesday, reflecting worries over slipping steel margins this year amid leaner demand in the world’s top consumer. Read more

Argentina buys most U.S. soy in 20 years after drought cuts crop

CHICAGO/BUENOS AIRES (Reuters) - Argentina, the world’s third biggest soy producer, booked its largest purchase of U.S. soybeans in 20 years on Tuesday after drought cut its harvest, forcing crushers there to turn to imports. Read more

Vietnam's March coal imports drop 30% on year to 1.41 mil mt

Vietnam imported 1.41 million mt of coal in March, down 29.5% from the same month in 2017, according to preliminary data released Tuesday by Vietnam Customs. Read more

Brazil's Albras to halve aluminum production due to Alunorte alumina supply cut

Brazilian aluminum smelter Albras will curtail 50% of its production due to a lack of alumina supply from Alunorte, forced to halve its own production in March due to environmental issues, Norsk Hydro, which owns both Brazilian entities, said Tuesday. Read more

Rio Tinto Copper CEO: Copper Market to See Deficit by 2020s

Copper will see a supply deficit in the 2020s as emerging technologies that rely on the metal become more prevalent, according to Arnaud Soirat, CEO of copper and diamonds at Rio Tinto (LSE:RIO,ASX:RIO,NYSE:RIO). Read more

UPDATE 1-Brazil green coffee exports fall 10 pct in March – Cecafé

SAO PAULO, April 10 (Reuters) - Brazilian green coffee exports fell in March to the lowest level in six years for that month, reflecting slow farmer selling and low supplies in the months preceding the harvest of a new crop, exporters association Cecafé reported on Tuesday. Read more

Freight Logistics

Dry Bulk FFA: Capesize Index Still Bearish

The global seaborne thermal coal market is expected to grow by around 48 million mt from 2017 to touch 963 million mt in 2018, according to trading house Noble Group at the Coaltrans China conference in Beijing Tuesday. Read more

Global seaborne thermal coal demand to hit 963 mil mt in 2018 driven by Asia: panel

The index remains bullish with the weekly stochastic now crossing the 50-level indicating momentum is strengthening on the weekly chart. Read more

Will weak spot market end bull run for transpacific contracts?

A top-heavy delivery schedule and sluggish demand may force shipping lines to lower 2018 transpacific contract rates. Read more

Trucking prices remain elevated and signs point to higher rates in other modes

Data on producer prices shows continued signs of pressure for overall inflation in the economy as announced tariffs led to a jump in steel prices in March.  Trucking prices leveled off in March but remain strong relative to this point last year, and other modes of freight such as intermodal are experiencing rapid gains. Read more

Containers (Lots of) from China

In issue 86 (December 2011), Rail Engineer reported on the £650 million Russian Railways “Transsib in Seven Days” project to increase the capacity of the Trans-Siberian railway to enable it to carry transit traffic from South East Asia to Europe in seven days. This included providing loops 1.5 kilometres long to accommodate trains of 71 wagons. At the time, the transit traffic over the Trans-Siberian railway was 18,000 TEU (Twenty-foot Equivalent Units). Read more

Teamsters' rail conferences seek NAFTA improvements

The Teamsters' rail conferences in the United States and Canada yesterday joined with unionized Mexican freight-rail workers in calling for fair and equitable treatment of all industry workers under a revamped North American Free Trade Agreement (NAFTA). Read more

Commodities

Column: U.S. Sanctions on Rusal Threaten Aluminum Turmoil: Andy Home

LONDON (Reuters) - U.S. tariffs on imports have already roiled the aluminum market. Read more

UPDATE 3-Hydro Denies Brazil Alumina Plant Contaminated Local Environment

OSLO, April 9 (Reuters) - Aluminium producer Norsk Hydro denied on Monday its Alunorte alumina refinery in Brazil had contaminated local waters, contradicting the findings of a Brazilian public health group. Read more

Iron Ore Giant Says Miners Have Shut Gates on Adding New Supply

Global iron ore miners have turned off the tap on adding new production capacity to feed China’s steel mills as the world’s largest customer is already awash with supplies, according to Fortescue Metals Group Ltd. Read more

Relations Sour at Giant Copper Pit With Automation Looming

Just as labor tensions ease at BHP Billiton Ltd.’s giant Escondida mine, the copper industry has another iconic mine to worry about. Read more

US Winter Wheat Rating Hits Lowest Mark on Record for Early April

DES MOINES, Iowa — On Monday, the USDA dropped the U.S. winter wheat conditions, as cold weather continues to grip the Plains states. Read more

US Corn Inspected for Export Rises 34% on Week, 59.7% on Year: USDA

The amount of US corn inspected for export rose 34% week on week to 1.937 million mt in the week that ended Thursday, US Department of Agriculture data showed Monday. Read more

Freight Logistics

Capesize Market In “Perfect Storm”

The perfect storm for the big ships: with holidays, force majeure in two ore exporting ports and bad weather undermining the market. A lack of significant activity from Brazil left the market one-sided, with owners/operators reluctant to ballast from the East, they instead chased the shorter rounds Read more

World’s Top Iron Shipper Says China Import Boom to Level Off

The world’s largest iron ore exporter delivered a mixed message on the outlook, raising near-term price forecasts but combining that revision with a more somber message that China’s gargantuan imports are set to level off as steel production eases in the coming years. Read more

To Deliver Goods in an Ever More Congested Metropolis, Officials are Turning to a Freight-Rail Network

The New York & Atlantic Railway has had its brushes with Hollywood stardom over the years, including when one of its speeding locomotives sent the Jeep of actor Sam Worthington’s character into a cartwheeling wreck during a chase scene in the 2012 thriller Man on a Ledge. Read more

Technology Disruptor: Blockchain is a Potential Game-Changer in the Rail Realm, Industry Adopters Say

In February, BNSF Railway Co. became the first Class I to join the Blockchain in Transport Alliance (BiTA). A handful of other rail companies, including GE Transportation and Bourque Logistics — and rumblings of more to come — also are among BiTA’s more than 230 members. In addition to rail realmers, BiTA comprises truckload carriers, third-party logistics companies, tech firms, major retailers, OEMs, parcel carriers, financial services providers and data analytics specialists collaborating to define new blockchain standards for the logistics industry.  Read more

Today's Pickup: Freight Markets See Strong Demand, Low Volatility

For the moment, it appears that freight markets in the United States are at a point of relative equilibrium. FreightWaves’ TRI (tender rejection index) metrics have stabilized at fairly low levels, and spot rates have pulled back from their January spike to return to their December levels (we think the December 2017 levels represent a ‘new normal’ that has priced in the loss of productivity from the ELD mandate). Zach Strickland wrote about this strong, but steady freight environment on Friday afternoon. Read more

Maersk Expands Online Booking Platform for Chinese Shippers to Mediterranean Ports

Maersk Line has expanded its online booking platform following a pilot period, in what some have suggested poses a greater threat to traditional freight forwarders than the digital disruptors. Read more

Commodities

What to Watch in Commodities: Aluminum, Trump Vs Xi, Copper, Soy

We live in interesting times. Just as investors weigh up the U.S.-China trade punch-up, markets need to adjust to a whole new front. U.S. sanctions against Russian companies and oligarchs are upending aluminum. The metal’s surging, while shares in United Co. Rusal are in the grinder. What should we expect this week? And what does it mean for Glencore Plc? Read more

Australian government raises 2018 price forecasts for iron ore, metallurgical coal

Australia's chief economist has lifted its forecasts for iron ore and metallurgical coal prices for 2018 and 2019, but maintains its view that prices will drop over that time frame, the Resources and Energy Quarterly report released Monday showed. Read more

Australian PWCS coal terminals' vessel queue falls on week to 6 ships

Port Waratah Coal Services' two terminals at Newcastle port in eastern Australia had six ships waiting offshore Sunday, down from 11 ships a week ago, the Hunter Valley Coal Chain Coordinator said in a report Sunday. Read more

NO GO eco zones could hit Chiria iron ore mining plans - DNA Report

DNA reported that the Indian government's draft plan on sustainable iron ore mining in Jharkhand's Saranda has proposed go and no-go zones and biodiversity hotspots to protect the rich Sal forest and over 200 elephants and that the plan,  Read more

Grains – Wheat rallies more than 1 pct as cold weather threatens crops

SYDNEY, April 9 (Reuters) - U.S. wheat futures jumped more than 1 percent on Monday to hit a three-week high as cold weather threatens to cause further harm to crops, already damaged by dry weather. Read more

Freight Logistics

Shipping worried as world trade tensions escalate - Allied Shipbroking

Predictions about a freight market recovery in the dry bulk and container markets can be left high and dry, if the unexpected factor of a trade war comes to fruition. And as far-fetched such a notion seemed up to a couple of days ago, the events of this week suggest that nothing should be taken for granted in this time and age. Read more

Georgia Plans Unprecedented Smart Commercial Vehicle Lanes

The Georgia Department of Transportation has planned an unprecedented barrier-separated, commercial vehicle-only lane project along Interstate 75 North that’s also set to be the nation’s first smart commercial vehicle corridor. Read more

World rail freight news round-up

Konkan Railway inaugurated a multimodal logistics park at Balli station near Madgaon in Goa state on March 28. The park has been set up with an investment of Rs430m by Konkan Railway and Container Corporation of India Ltd. Read more

Eco Marine Power announces first public display of EnergySail prototype

Eco Marine Power (EMP) announced that it will exhibit a working prototype of its EnergySail technology and the automated control system for the first time, at Sea Japan in Tokyo between 11 - 13 April. This laboratory prototype will be exhibited along with several associated technologies including an energy storage solution and flexible marine grade photovoltaic panels. Read more

Global perspective on wheat trade offered

US – UK – It seems the world is becoming ever more aware that very often the best time to conduct logistics operations is during the hours of darkness when traffic levels tend to be much lower. This nocturnal habit is a natural progression as pressure on the supply chain rises and is affecting fields from ocean freight consolidations to urban cycle movements because of the ever increasing amount of online shopping, and can be clearly illustrated by two vastly differing examples. Read more

Surging spot market may have flattened, but it still points to higher contract numbers ahead

After setting one record high after another in the early weeks of 2018, the weekly DAT Dry Van and Reefer Barometers have finally pulled back slightly, before stabilizing in a strong growth range.  Meanwhile the weekly DAT Flatbed Barometer has continued to set one new record high after another.  All three modes of truckload trucking are reflecting an environment in which demand exceeds capacity by a wide margin. Read more

Australian coal exports from Gladstone remain below 5 mil mt/month in March

Exports of coal from the Port of Gladstone in Queensland, Australia, are yet to breach the 5 million mt/month mark, according to data released by the Gladstone Ports Corporation. Read more

US corn prices climb as flooding disrupts river system

US yellow corn prices, CIF NOLA basis, spiked Thursday as flooding conditions on the US river system caused major delivery disruptions for exporters. Read more

Japan's April-June steel demand to rise marginally: METI

Japan's crude steel output during April-June will reach 26.34 million mt, up 0.9% year on year but down 0.9% from from January-March, according to a new forecast released by Japan's Ministry of Economy Trade and Industry Friday. Read more

Double blow for high grade Americas iron ore supply

Atlantic iron ore markets have been hit by two supply shocks emerging since last week, hitting high grade concentrate and pellets from Canada and Brazil. A strike at the IOC operation in Newfoundland and Labrador may be prolonged, after port workers at the associated Sept Iles terminal voted to strike after rejecting an offer. Read more

Spring wheat bids drop with large U.S. acreage ideas

Hard red spring wheat bids in Western Canada moved lower during the week ended March 29, as losses in Minneapolis futures weighed on values. Read more

Soybeans Close 16¢ higher Thursday

DES MOINES, Iowa -- On Thursday, the CME Group’s farm markets ignored the recent bearish trade news and closed stronger. Read more

Freight Logistics

Dry Bulk FFA: Panamax Index In Correction Mode

The Panamax index remains corrective with the 8 – 21 period EMA’s showing a bearish cross but remaining above the 55 period MA. Technically the Index is starting to look oversold with the short period RSI on the weekly now at 7. Read more

Indonesia: Association urges postponing new coal shipping rules

The Indonesian Coal Mining Association (APBI) has called on the government to postpone implementing a new shipping policy that will oblige coal and crude palm oil (CPO) exporters to ship their commodities using only domestic shipping companies and insurance services. Read more

Brazil soy exporters set to win big from U.S.-China trade spat

China’s move to slap tariffs on U.S. farm products sent Brazil soy premiums surging to historic highs on expectations of higher export demand on Wednesday, but traders and analysts warned that Latin America could not entirely replace U.S. production. Read more

Moving toward freight ton efficiency together

Last week I presented our Run on Less findings to the government industry meeting of the 21st Century Truck Partnership.  I first worked with this group back in 2007, when I represented Navistar and helped construct some of the early documentation that pushed SuperTruck to approval.  Very impressive group working hard to progress truck technologies. Read more

From Ocean Freight to Urban Logistics the Trend is for Night Time Working

US – UK – It seems the world is becoming ever more aware that very often the best time to conduct logistics operations is during the hours of darkness when traffic levels tend to be much lower.  Read more

Mason Mega Rail project seeks to double rail capacity by 2020

The Georgia Rail System is impressive as it is consisting of over 5,000 route miles that run through most of the state’s 159 counties. It’s about to get a lot bigger.  Read more

Commodities

Coal stocks held by China's six key power plants slide 3% on week to 14.35 million mt

Combined coal stocks held by China's six key coal-fired power generators in the south and east of the country totaled 14.347 million mt on April 5, down 2.7% from 14.74 million mt on March 29, according to data released Thursday by port operator Qinhuangdao Port. Read more

China's Jan-Feb copper concs imports from Peru rise 8% on year to 847,635 mt

China imported 847,635 mt of copper concentrate from Peru over January-February, up 7.8% year on year, according to data released by General Administration of Customs last week. Read more

CBOT corn futures plunge on China's announcement of tariff on US soybeans

The front-month CBOT May corn futures contract dropped 7.50 cents to $3.8100/bu Wednesday, due to China's announcement of proposed 25% tariff on US soybeans, sources said. Read more

Analysis: Iron ore pellet contracts, met coal pricing rise in Q1

Atlantic Basin iron ore pellet contract prices rose in the first quarter, as higher premiums and iron ore fines references in China pushed up invoices, while Q1 met coal reference pricing strengthened, according to an analysis by S&P Global Platts. Read more

US plate prices rise as steel buyers sort out June availability

US plate prices increased Wednesday as scattered June availability is helping mills to continue to push offers higher. Read more

What low U.S. winter wheat ratings say about final yield: Braun

Agriculture market participants like to joke that wheat has nine lives due to its resilient nature - and in some years that seems to prove true. But this year, the U.S. winter wheat crop may be running out of lives since it has entered April in just about the worst shape ever. Read more

Freight Logistics

Multipurpose shipping eyes recovery

Multipurpose shipping has started 2018 on a confident footing and is forecast to recover further on rising demand, contracting vessel supply and lessening threats from competing sectors, according to the latest edition of the Multipurpose Forecaster and Annual Review report published by global shipping consultancy Drewry. Read more

Seven Hapag-Lloyd container vessels benefit from MacGregor Cargo Boosts which deliver enhanced earning potential and reduce emissions per transported cargo unit

MacGregor, part of Cargotec, is upgrading and optimising the container stowage systems on board seven Hapag-Lloyd C-class (Samsung 9,300 TEU series) container vessels.  Read more

Indonesia to postpone new coal, palm oil shipping rules to 2020

Indonesia will delay until 2020 trade rules requiring exporters of coal and crude palm oil to use only Indonesian-flagged vessels, government officials said, putting off efforts to develop local shipping and save foreign exchange reserves. Read more

Chiquita stays fresh with 2500 energy-efficient reefer containers from Maersk Container Industry

Dedicated to creating more sustainable shipping practices, the world-renowned banana producer is further bolstering its fleet of Star Cool Integrated™ containers and adding more controlled atmosphere systems to deliver premium banana quality. Read more

AEP seeks more than 7.7 million st of coal for 2018, 2019

American Electric Power is seeking more than 7.7 million st of coal for multiple power plants, with deliveries starting as early as July and ending as late as December 2019. Read more

Heavy-Duty Truck Orders Hit Highest Level Since 2006

Strong freight demand and a healthy economy pushed first-quarter orders for heavy-duty trucks to their highest level since 2006. Read more

Commodities

Caserones copper mine in Chile says to close copper concentrator

SANTIAGO (Reuters) - Caserones copper mine in Chile said on Tuesday that it would temporarily shut down its copper concentrator in order to replace a leaking pipe. Read more

US Hampton Roads coal exports at near four-year high

Coal exports from terminals in Virginia's Hampton Roads region were at a near four-year high 3.83 million st in March, up 8% from 3.55 million st in February and 15.1% higher than the year-ago month, Virginia Maritime Association data showed Tuesday. Read more

UK coal generation hits 14-month high in March

The UK coal-fired fired generation hit a 14-month high of 3.9 TWh in March, the highest since since January 2017, when output stood at 4.72 TWh, according to S&P Global Platts Analytics. Read more

Australia's DBCT declares force majeure on coking coal loadings: sources

Australia's Dalrymple Bay Coal Terminal has declared force majeure on coking coal loadings, after operations at several terminals, as well as rail operations, were suspended due to Tropical Cyclone Iris, five miners who received the notice said Wednesday. Read more

Russian wheat exports up 41% in marketing year to date at 30.6 mil mt

Russian wheat exports in the 2017-18 (July-June) marketing year to date are 41.2% higher than at this point last year at 30.611 million mt, data from the ministry of agriculture showed Monday. Read more

Copper price bears are out as first surplus in six years predicted

On Tuesday  copper for delivery in May advanced to a two-week high on the Comex market in New York at $3.065 per pound or $6,755 a tonne after positive manufacturing data from China, the globe's number one metals consumer. Read more

Freight Logistics

Sizing Up China’s Bulkcarrier Fleet

Over the last decade, the global bulkcarrier fleet has expanded rapidly, more than doubling between the start of 2008 and March 2018 to total 822.5m dwt. Read more

Shipping Q1: Asia Pacific dry freight market stutters after promising start

The story of the Asia Pacific dry bulk markets for 2018 has been that of a promising start, but a shaky entry into the second quarter and a hopeful medium term, based on the trends that emerged from Q1. Read more

China’s coastal coal freight rates fall in week to April 3

Freight rates for shipping coal from northern China’s Qinhuangdao port to the other Chinese ports of Zhangjiagang, Shanghai and Guangzhou in eastern and southern China began to fall in the week to April 3, port operator Qinhuangdao Port Tuesday said. Read more

Slow and steady recovery for container shipping

The outlook for the container shipping market in 2018 and 2019 is a combination of healthy demand growth that will outpace the fleet; resulting in a better supply-demand balance and slightly higher freight rates and profits for carriers, according to the latest edition of the Container Forecaster published by global shipping consultancy Drewry. Read more

COSCO Shipping’s takeover of OOCL to complete by end-June: vice chairman

COSCO Shipping’s (601919.SS) planned acquisition of Orient Overseas Container Line (OOCL) is on track to be completed by the end of June, the company’s vice chairman Huang Xiaowen said on Tuesday. Read more

Improvement Of Container Inspection-Use Of Non-Intrusive Technologies

More than 90 million TEU are handled in European ports every year. In view of this large number of containers, the EU-funded project C-BORD (Effective Container Inspection at Border Control Points) was launched. Read more

Commodities

U.S. corn carryout could easily notch five-year low in 2019: Braun

CHICAGO (Reuters) - The U.S. Department of Agriculture’s stingy forecast for domestic corn plantings could be one of the first signposts toward an increasingly bullish corn environment over the next year or so. Read more

China's Luoyan port bans coal imports temporarily from April 1: government notice

BEIJING (Reuters) - The eastern Chinese province of Fujian has temporarily banned foreign coal imports into the small port of Luoyan from April 1, according to a government notice reviewed by Reuters, the latest move to curb imports of the fuel. Read more

China grants more subsidies to soy farmers as it cuts corn stocks

BEIJING (Reuters) - Soybean farmers in China’s northeastern provinces will get higher subsidies than corn producers this year as Beijing continues a policy set last year to reduce its huge corn stockpile, the government said on Tuesday. Read more

China's coastal coal freight rates fall in week to April 3

Freight rates for shipping coal from northern China's Qinhuangdao port to the other Chinese ports of Zhangjiagang, Shanghai and Guangzhou in eastern and southern China began to fall in the week to April 3, port operator Qinhuangdao Port Tuesday said. Read more

Ukraine's Jan exports of ferroalloys up 13.8% on year

Ukraine's exports of ferroalloys rose 13.8% year-on-year to 77,870 mt in January from 68,450 mt a year earlier, the state statistics service reported Tuesday. Read more

Analyst says copper deficit is set to deepen

Investor Intel reported that copper market this year seems a long way off the red-hot streak of 2011. Prices have slumped year to date. For sure, there have been declines in all asset classes as the world stares aghast at the prospect of a trade tariff war.  Read more

Freight Logistics

Japan corn imports to remain high

With prices on the global market remaining at a low level, Japan is forecast to import 15.3 million tonnes of corn in 2018-19, according to a March 28 Global Agricultural Information Network (GAIN) report from the U.S. Department of Agriculture. Read more

Trucking prices set for new surge as US keeps tabs on drivers

[DALLAS] A US trucking shortage that has pushed up freight costs for everything from cereal to toothbrushes is about to get worse. Read more

Shipping Q1: Asia Pacific dry freight market stutters after promising start

The story of the Asia Pacific dry bulk markets for 2018 has been that of a promising start, but a shaky entry into the second quarter and a hopeful medium term, based on the trends that emerged from Q1.  Read more

NAFTA Freight Traffic Climbing

U.S. truck freight operating under the North American Free Trade Agreement (NAFTA) rose 10.2 percent in January compared with the same month a year ago, according to the Bureau of Transportation Statistics or BTS. Trucks hauled $60.6 billion in freight in January. Read more

2018 is the year of the trucking capacity crunch

Freight trucks are the lifeblood of America’s consumer economy—they represent 70.9 percent of the nation’s freight by tonnage shipped and 81.5 percent of the nation’s freight by cost spent, according to data from the American Trucking Association (ATA). Wages continue to rise for America’s truckers as the trucking industry contends with driver shortages coupled with an increased demand for shipping services. Read more

Air freight takes off in early 2018

Industry-wide freight ton kilometers (FTKs) were off to a strong start in 2018, with volumes growing 8.0% in January, an increase over December 2017's growth of 5.7%, the International Air Freight Association (IATA) reported. Read more

Commodities

Coal India misses FY 2017-18 annual output target by 32.63 million mt

State-run Coal India Limited, the country's largest coal producer, has missed its annual output target by 32.63 million mt, after producing 567.37 million mt during the fiscal year to March 2018, the company said in a regulatory filing to the Bombay Stock Exchange Sunday. Read more

Chinese ADC12 aluminum offers unaffected by import tariff on US scrap: sources

Chinese aluminum producer and Japanese trade sources said Monday trade of secondary aluminum ADC12 alloy, used for automotive components, has not been affected by China imposing a 25% tariff on US scrap imports into China. Major Chinese ADC12 producers will continue to import US scrap for processing trade operation, which is tariff-free in China, sources said. Read more

Singapore Exchange Mar coking coal traded futures jump 143% on month to 1.01 million mt

The Singapore Exchange said the volume of coking coal futures which traded in March stood at 1.011 million mt, rising 143% compared with February, but falling 42.49% year on year, according to SGX data released Monday. Read more

Japan's secondary aluminum demand to remain stable in FY 2018-19

Japan's secondary aluminum demand is forecast to remain stable during the current fiscal year over April 2018 to March 2019, Japan Aluminium Alloy Refiners Association said Monday. Read more

LME, SHFE Copper Prices Trend Down in March

Last year, the metal affectionately dubbed “Dr. Copper” — essentially, for its role as a general indicator of economic health — saw its price soar. Read more

US, China trade war to send iron ore prices tumbling as gap widens between high and low-quality product

Iron ore has rapidly fallen into a bear market as worries about a trade war between the US and China add to concerns about expanding supply and cutbacks in China's steel industry. Read more

Freight Logistics

Shipping faces demands to cut CO2

A battle is under way to force the global shipping industry to play its part in tackling climate change. Read more

Indian ship owners threaten to flag out if cabotage is eased and RoFR removed

Fleet-owners in India have threatened to flag their ships outside the country if cabotage is further eased and a so-called right of first refusal (RoFR) available to them is removed. Read more

April Economic Roundup: freight demand conditions bounced back during the month

As part of our overall coverage of freight markets, FreightWaves publishes a summary of the changes in the economy over the past month, both in terms of the data releases and in developments in public policy. Read more

Freight rates remain flat on ample availability

Freight rates for nine-tonne pay load section ruled flat at the local truck transport market in the national capital today following ample position of trucks against restricted cargo movements. Read more

World rail freight news round-up

Mitsubishi Corp subsidiary MTF Logistics has leased 62 flat wagons from EVR Cargo subsidiary WagonPro. They are to be used on container services between the Port of Muuga and Koidula on the Russian border. EVR Cargo already cooperates with MTF Logistics on two intermodal routes. Read more

China-Europe freight train trips surge in Q1

China-Europe freight trains have made 1,000 trips in the first three months of 2018, up 75 percent compared with the same period last year, according to China Railway Corp. Read more

Commodities

Argentine soy, corn harvests begin with low yields reported

BUENOS AIRES (Reuters) - Drought-hit Argentine soy yields are well below historic averages, the Buenos Aires Grains Exchange said on Wednesday, with 8.8 percent of the harvest completed in the central farm belt and little hope of a near-term improvement in the weather. Read more

Wesfarmers completes sale of Australian Curragh coal mine to US Coronado

Australian diversified company Wesfarmers said Thursday it has completed the sale of its large-scale Curragh coal mine in the state of Queensland to major US metallurgical coal producer Coronado Coal Group. Read more

Egypt's Ezzsteel seeks to meet rising iron ore, raw materials costs

Thirty-seven ships were in the Russia-Baltic seaborne thermal coal region Monday, down from 43 a week earlier, according to cFlow, Platts trade flow software. Read more

UAE's Al Taweelah alumina refinery to produce first alumina in H1 2019

The Al Taweelah alumina refinery in the UAE is expected to produce first alumina during the first half of 2019, Emirates Global Aluminium said in a statement this week.  Read more

Latin America's steel trade deficit with China rises 8% in 2017

Latin America's steel value chain registered a $23.44 billion trade deficit with China in 2017, up 8% from the $21.64 billion deficit in 2016, the Latin America steel association, Alacero, said Wednesday. Read more

Ukrainian corn up above $200/mt, buoyed by Chinese buying for ethanol

Ukrainian corn has risen back above $200/mt as buyers from China resurfaced on demand for ethanol production while buyers from Egypt were looking to build stocks ahead of Ramadan, sources said. Read more

Freight Logistics

Dry Bulk FFA: Panamax Paper Still Bullish

The new low close on the weekly chart signaled that the Panamax index has entered a corrective phase within a bullish trending environment. Read more

Dry Bulk FFA: Capesize Paper Market Sell-Off

The physical decline appears to be gathering pace again which manifested itself in a significant paper sell off in the morning session. The damage would appear to have been done early on as the nearly 7% fall in the index did little to change rates for the remainder of the day. There was some solid support down the curve as the market drew to a close, leaving a glimmer of hope for a revival in rates after the eater break that looms. Read more

Hapag-Lloyd: to have plan for 2020 fuel regulation later in 2018

German shipping company Hapag-Lloyd plans to give details within three to six months on compliance with tighter shipping fuel regulations that will kick in from 2020, its chief executive Rolf Habben Jansen said on Wednesday. Read more

Container Shipping: All Change At The Top?

The completion of annual container freight tenders for many European retailers in April 2018 will be the first indication of how the new Ocean Network Express (“ONE”) will rank as a global player. Will the commercial clout of the three merged lines result in a growth in market share? Or will customers shy away for fear of operational teething problems and maintain a spread of their volumes across different carriers and alliances? Similar questions have applied to previous mergers over recent years. The only constant in the container line industry has been change. Read more

Hapag-Lloyd sees calmer waters for shipping industry

Demand for shipping is growing and could outpace the supply of new vessels next year, helping to boost profits at Hapag-Lloyd as it also reaps the benefits of a recent merger, the German company said on Wednesday. Read more

Bridging the gap between reality and perception of rail freight in America

Fifteen years ago, the organisation representing the transportation departments of all 50 U.S. states, the District of Columbia and Puerto Rico released a report demonstrating the immense value1 of America’s 140,000-mile rail freight network to the economy and overall quality of life; catching the attention of the leaders in America’s railroad companies. Read more

Commodities

Brazil soy crop, exports revised up on strong yields, demand

SAO PAULO (Reuters) - Brazilian soybean farmers are looking at another strong year after a drought in Argentina and international trade tensions involving the United States and China boosted prospects for the country’s oilseeds industry. Read more

China preparing list of retaliatory tariffs on U.S. imports: Global Times

BEIJING (Reuters) - China will soon announce a list of retaliatory tariffs on United States exports to China to counter an expected announcement from the United States of proposed new tariffs on Chinese imports, the Global Times said Wednesday. Read more

Baltic coal shipments fall on week due to low spring demand

Thirty-seven ships were in the Russia-Baltic seaborne thermal coal region Monday, down from 43 a week earlier, according to cFlow, Platts trade flow software. Read more

European aluminum billet premiums remain firm amid strong consumer demand

European aluminum billet spot and second-quarter premiums remained firm throughout March on the back of strong consumer demand, sources said. Read more

Iranian DRI, semi-finished steel output surges: ISPA

Iran's direct-reduced iron (DRI) production rose by 24% year on year to 24 million mt over the first 11 months of the current Iranian year (to February 19), according to the Iranian Steel Producers' Association. Read more

Copper price: 120% premium for Brazil junior another bullish sign

It’s not a big deal; only around $350m, but the Oz Minerals bid for Avanco Resources is another sign that quality assets can command a premium in a copper market hungry for new supply. Read more

Freight Logistics

OSV YTD Scrapping Rates Increase by 153%

In this current period of downturn, critics of offshore shipowners will say that owners have been guilty of not scrapping older tonnage in order to maintain a young and advanced fleet. Though this is justified, rewind to pre-downturn, these debt free older vessels were able to get work on a fairly regular basis, and were a cashflow generator for owners. Read more

Shipping in an era of digital transformation: Structural shift in shipping – opportunities through digital networking

The digitalization process taking place in every area will also determine the future of shipping. The changes will affect the structures and business models of the industry as well as production. Read more

New Marine Fuel Rules to Cause Shipping Rate Rises, Pose a Risk to Trade

Back in 2016, after nearly 30 years of asking, the International Maritime Organization (IMO) — the U.N. body that polices the marine industry — finally succumbed to collective outrage and announced a change to take effect from 2020 leading to an effort to clean up ship pollution. Read more

Chinese company interested in Cabo Verde’s inter-island shipping tender

The international public tender for concession of inter-island passenger and cargo shipping has attracted interest from a Chinese shipowner, as well as from similar Portuguese, Cape Verdean and other companies, according to the Africa Monitor Intelligence newsletter. Read more

China's coastal coal freight rates mixed in week to Mar 27

Freight rates for shipping coal from northern China's Qinhuangdao port to the other Chinese ports of Zhangjiagang, Shanghai and Guangzhou in eastern and southern China were mixed in the week to March 27, port operator Qinhuangdao Port said Tuesday. Read more

Today's Pickup: strong used truck prices, trailer orders; Philly heats up

According to ACT Research, in February Class 8 used prices rose 3% year-over-year, but were down 2% from January, while average mileage was flat compared to last February and the average age was lower on a year-over-year basis. “Dealers are reporting that used truck sales have strengthened,” said Steve Tam, Vice President at ACT Research. Read more

Commodities

Two risks threaten commodities, one bullish, one bearish: Russell

LAUNCESTON, Australia (Reuters) - It’s not quite time to run up the red flags, but some recent developments in commodity markets suggest it may be time to start looking for them in the locker. Read more

Hope for Argentine soy recovery dashed by scant weekend rains

BUENOS AIRES (Reuters) - Rains expected to relieve Argentina’s drought-hit soy and corn crops failed to materialize over the weekend, all but ending hope that yields might recover from four months of unrelenting sun with more heat and dryness expected over the days ahead Read more

U.S., South Korea revise trade deal with quotas on Korean steel

SEOUL (Reuters) - The United States and South Korea agreed to revise a trade pact sharply criticized by U.S. President Donald Trump, Seoul said on Monday, with U.S. automakers winning improved market access and Korean steelmakers hit with quotas but avoiding hefty tariffs. Read more

China's Feb coking coal import fell 42% on month to 2.9 mil mt

China imported 2.9 million mt of coking coal in February, reflecting a 42.44% decline compared with January and a 34.35% decline year on year, customs data released Tuesday showed. Read more

Hydro in talks with authorities to normalize Brazil's Alunorte alumina refinery operations

Norsk Hydro said Tuesday that it was in talks with environmental authorities to resume normal operations at the Alunorte alumina refinery in Brazil's Para state. Hydro owns 92.1% of Alunorte. Read more

High yields in Brazil's Matopiba region signal positive soy crop bias

PALMAS (Reuters) - Soy yields in Brazil’s new agricultural frontier Matopiba indicate a positive bias for the country’s soy crop this season, analysts at Agronconsult said as they concluded a private crop tour in the region last week. Read more

Freight Logistics

Dry Bulk FFA: Capesize Index Still Bearish

The Capesize index remains technically bearish, however the 21 period RSI at 28 is oversold and in an area that has supported the index in some form or other for the last 18 months. Read more

IMO is the right organization to regulate maritime industry: BIMCO

The maritime industry needs global regulations for a global industry, which makes the International Maritime Organization, or IMO, the right organization for this task, BIMCO’s chief shipping analyst Peter Sand told S&P Global Platts Monday. Read more

As E-Commerce Grows, What is the Role of the Box Carriers?

A few weeks ago, Bloomberg published an article about Maersk being cautious based on the rise of Amazon and Alibaba (The World’s Biggest Container Shipping Line Is Now Worried About Amazon and Alibaba). Read more

China's Caofeidian port launches new rail freight link to Mongolia

SHANGHAI, March 27 (Reuters) - The port of Caofeidian in northern China’s Hebei province has launched a new dedicated rail freight link to the Mongolian capital of Ulaanbaatar, the local government said on Tuesday, part of efforts to boost its international presence. Read more

Uber Freight builds connections with truck drivers at MATS

Uber Freight may be a technology company, but Jeff Ogren, community manager, says the company is still about people. That’s why the company was front and center at the Mid-America Trucking Show last week in Louisville with a big display in the lobby showing offer its freight board and talking about its new Uber Freight Plus card. Read more

DAT: load-to-truck ratios stay strong despite freight slippage

Though spot TL freight volumes slipped 1.2% and truck availability increased 2% for the week ending March 17, load-to-truck ratios and spot rates remained relatively even –although both are considerably higher compared to a year ago, according to data tracked by DAT Solutions. Read more

Commodities

China should target U.S. soybeans, says former finance minister

BEIJING (Reuters) - The response by China’s commerce ministry to the latest U.S trade measures is too weak, and should target U.S. soybeans, former Chinese finance minister Lou Jiwei said on Saturday. Read more

Why are Shanghai aluminum stocks at record highs? Andy Home

Stocks of aluminum registered with the Shanghai Futures Exchange (ShFE) rose another 6,102 tonnes this week, extending a build that has been running uninterrupted since June last year. Read more

China’s shift to high-grade iron ore isn’t set in stone

A comfortable consensus is emerging in the iron ore market that China’s vast steel industry has undergone a structural change that has resulted in quality iron ore gaining a permanent advantage over lower grades. Read more

Egypt purchased almost 5 MMT of wheat in GASC tenders

Mostly upward price trends persisted in the export market of Russian wheat last week. Russian wheat continues to be supported by active foreign demand and record exports, reports UkrAgroConsult. Read more

Cheaper Iron Ore Finding Plenty of Buyers in China, Miner Says

Low-grade iron ore that has fallen out of favor with many of China’s steelmakers is still in demand as mills keep buying the cheaper product, according to a junior Australian supplier. Read more

Rio Sees $5 Billion Copper Expansion on Track Amid Probe

Rio Tinto Group has yet to be contacted by Swiss authorities over a bribery investigation related to Mongolia’s giant Oyu Tolgoi copper and gold mine and the site’s $5.3 billion expansion remains on track, according to the producer’s top executive. Read more

Freight Logistics

Dry Bulk Market: Capesize Index Recovers Part of Mid-Week Losses

After a relatively positive start, the market stalled mid-week, dropping below $6.00 on the West Australia/China run, regaining some ground as the week closed out. Read more

Ready To Play The Long Game?

The shipping markets in general have spent significant periods of time since the onset of the financial crisis back in 2008 around bottom of the cycle levels, acting as a drag on cumulative earnings. The graph compares the performance of a Capesize bulkcarrier, an Aframax tanker and a 4,400 TEU (‘old Panamax’) containership (vessels not priced dissimilarly for newbuildings prior to the crash) in terms of the monthly development of cumulative earnings after OPEX. Read more

Why the container industry needs to replace BAF with a new pricing tool

The container industry has an elephant in the room. It’s big, smelly and has some serious boundary issues. Its name is the Bunker Adjustment Factor and recently it has grown so large that market players can barely see each other behind its fat bulk. Read more

Blockchain in shipping – no standards?

Recently there was the announcement of yet another container shipment trial using blockchain  Read more

Confused on the ELD rule? FMCSA official tries to clear it up

With the hard deadline of April 1 fast approaching, the Mid-America Trucking Show seemed like a perfect place for FMCSA officials to connect with drivers and answer any questions they may still have concerning the electronic logging device (ELD) mandate. And, boy, did they have questions. Read more

Indonesia's protectionist shipping rule worries coal importers

TOKYO -- Indonesia's decision to mandate the use of domestic shipping companies handling the country's key export commodities of coal and palm oil has drawn criticism, as well as a warning that it will drive up freight costs and hurt the country's economy in the end. Read more

Commodities

Chinese steel and ore derivatives plunge on escalating trade tensions

The looming possibility of a trade war between China and the US has decimated confidence on the steel and ore derivatives market, sending prices tumbling. Read more

China eyes retaliatory tariffs on US imports worth $3 billion

China sought public feedback on a proposal to impose tariffs on US imports worth some $3 billion, in retaliation to the latter's move to tax imports of steel and aluminum effective Friday. Read more

Australia likely to safeguard Asian aluminum trade despite US tax exemption

Australia's exemption from the US' import tax on aluminum imports, set to take effect Friday, is expected to boost term contract shipments there, market sources said this week. Read more

Rio Tinto exits coking coal, seeks new economy metal ventures

Miner Rio Tinto is selling its last remaining Australian coking coal asset, Kestrel, shifting growth into investments in metals and minerals for batteries and new economy applications. Read more

India may not be exempt from higher US steel import tariffs

New Delhi: India is unlikely to be granted an exemption from the higher tariffs on imports of steel and aluminium imposed by the US—its name is missing from a list of probable partner countries the US is considering for a reprieve. Read more

NY cocoa nears 2016 high on fund buying, arabica coffee firms

New York cocoa futures on ICE climbed on Thursday, flirting with the highest price since 2016 on fund buying and signs of industry demand, while arabica coffee hovered above last week's contract low after open interest rose to a record. Read more

Freight Logistics

Tariffs and Shipping: What will the Immediate Impact be

With 2018 looking to be the definite “comeback” year for dry bulk market, shipowners of dry bulk carriers were actively looking to return to a full year of profits. Read more

BHP sees limited impact on steel market from U.S. new tariffs: executive

Global miner BHP anticipates planned new U.S. steel import tariffs will have a limited impact on both the steel market and the firm, and doesn’t foresee a chain reaction from other countries, a senior official said on Thursday. Read more

Steel Stocks Tumble as U.S. Tariff Waivers Water Down Benefits

U.S. Steel Corp. led declines by American producers of the metal as the government said it will shield a list of allies from import tariffs, eroding the benefits to domestic mills. Read more

China’s soybean imports ‘to hit 100m tonnes’ in 2018-19 for first time

Chinese imports of soybeans will hit a record 100m tonnes next season, boosted by “unrelenting growth” in consumption areas, although rapeseed purchases will remain below their all-time high. Read more

A Trade War Is Harmful To Us All And Clearly Bad For Global Shipping

On 1 March 2018, the American President pushed through a metals tariff plan, that puts 25% tariff on imports of steel and a 10% tariff on imports of aluminium. Read more

Dry Bulk FFA: Supramax Index Bullish

The Index remains technically bullish and is now on week 6. Recent upward moves have tended to last 10 weeks or more. Read more

Commodities

Rio Tinto to sell Queensland coal asset to Whitehaven for $200 million

(Reuters) - Global miner Rio Tinto agreed on Thursday to sell its 75 percent stake in a Queensland coal project to Australia’s Whitehaven Coal for $200 million, as part of a strategic decision to exit coal and focus on growth in iron ore, copper and aluminum businesses. Read more

Corn, soybeans, or something else? The U.S. farmer's dilemma: Braun

The debate over spring plantings in the United States always heats up this time of year, but lately the topic is particularly hot. Read more

China's shift to high-grade iron ore isn't set in stone: Russell

A comfortable consensus is emerging in the iron ore market that China’s vast steel industry has undergone a structural change that has resulted in quality iron ore gaining a permanent advantage over lower grades. Read more

Nestle provides lifeline for struggling Kenyan coffee farmers

KIRINYAGA, Kenya (Reuters) - When Nestle (NESN.S) executive Stephan Canz attended the German school in Nairobi in the early 1980s, it was surrounded by lush coffee farms. Read more

Platts assesses Q2 Japan aluminum premium at $129/mt plus LME, CIF

S&P Global Platts Thursday assessed the premium for imported primary aluminum in the second quarter at $129/mt plus London Metal Exchange cash, CIF main Japanese ports, up 25% from $103/mt CIF Japan for Q1.  Read more

Strong run of US corn export sales continues: USDA data

Large export sales of US corn by private exporters continued Tuesday for a third consecutive trading day, the US Department of Agriculture said Wednesday. Read more

Freight Logistics

China’s Love Affair With the Best Iron Ore May Be About to End

Evergreen Group officials yesterday gave a mixed outlook for this year, saying that EVA Airways Corp is likely to outperform Evergreen Marine Corp amid new uncertainties stemming from a brewing global trade war and protectionism. Read more

EVA Air to outpace marine line, Evergreen Group says

Active trading in CME Group’s new cash-settled futures for Black Sea grain suggests the exchange may have found a way to tap into booming Black Sea export trade after an unsuccessful earlier foray in the region. Read more

Loadless in Seattle

The alteration in container freight flows since the holiday season has hit Seattle the hardest. Read more

Truck tonnage down in February as shippers continue to look towards other modes

The American Trucking Associations (ATA) reported that truck tonnage declined 2.6% in February from January’s levels, marking the largest seasonally adjusted decline in nearly two years. Despite the sizeable decline, tonnage in the economy is still 5.7% higher than at this point last year. Read more

Southwest light-rail freight agreements approved by Hennepin County, Met Council

Key agreements related to freight trains that will share part of the $1.9 billion Southwest light-rail corridor were approved by the Metropolitan Council and Hennepin County this week  Read more

Industry's message to Whitehall: UK transport infrastructure is crumbling

The UK’s transport infrastructure is not fit for purpose, according to the logistics sector. Read more

Commodities

US corn inspected for export up 2.3% on week, up 3.8% on year: USDA

The largest share of the US’ grain exports last week was corn, with 54.4% of the total inspected for export, compared with 18.9% for soybean, according to USDA data. Read more

For China corn farmers, prices trump policy ahead of planting

China's farmers are expected to plant more corn this year, eyeing higher prices and profits despite a push to reduce acreage devoted to the cereal under the government's latest five-year plan. Read more

Shanghai copper hits 6-month low as shorts increase

Shanghai copper prices fell for a fourth day on Wednesday, marking their lowest close in almost six months amid fears of a trade war as investors waited for news on a U.S. interest rate hike. Read more

Zambia targets one million tonnes copper output this year

Zambia expects to produce more than one million tonnes of copper this year after revising its 2017 copper production upwards on the back of stable power supply, a senior ministry of mines official said on Tuesday. Read more

China's Love Affair With the Best Iron Ore May Be About to End

China’s drive toward bluer skies has been boosting demand for the cleaner burning -- and more expensive -- iron ore supplied by the top exporters. But the good times may be over. Read more

Rio shareholders tipped to win from coal sales

Analysts from UBS expect miner Rio Tinto to deliver another round of shareholder returns after it receives the cash, and pays tax, on its $US1.7 billion sale of two Queensland coal assets announced this week. Read more

Freight Logistics

U.S. Tariffs May Add 19,000 Steel and Aluminum Jobs, Study Says

U.S. tariffs on aluminum and steel imports will add thousands of jobs at domestic producers, offsetting labor losses in other industries, while economic growth will slow by a tiny percentage, according to the Coalition for a Prosperous America. Read more

CME gets foothold in Black Sea with new-look grain futures

Active trading in CME Group’s new cash-settled futures for Black Sea grain suggests the exchange may have found a way to tap into booming Black Sea export trade after an unsuccessful earlier foray in the region. Read more

China’s raw coal output up in 2017, first growth since 2014

China’s raw coal output rose in 2017 due to rebounding demand and high-quality capacity, according to the National Bureau of Statistics (NBS) Monday. Read more

China iron ore, steel extends losses as lofty China inventories weigh

Chinese iron ore prices fell further on Tuesday, a day after posting their biggest daily drop in almost 10 months as high inventories and a weak domestic steel market pressure prices. Read more

Brazilian soy market eyes Asian expansion through Panama deal

Brazilian soybean farmers in Mato Grosso are looking to increase their Asian market share, having agreed a partnership with the Panama Canal Authorities last week. Read more

Iraq sets local wheat purchase prices for 2018 season- trade ministry

Iraq’s Grain Board will pay the country’s farmers 420,000-560,000 Iraqi dinars ($354-$472) per tonne of local wheat during the 2018 harvest, unchanged from last year, the state buyer said on Tuesday. Read more

Commodities

Knight Hawk is 'sold out' on projected 2018 coal production: CEO

Knight Hawk Coal is "effectively sold out" on projected record production of at least 5 million st in 2018, CEO Steve Carter said Monday. Read more

China's Yunnan Aluminium targets 65% jump in 2018 alumina output to 1.4 mil mt

China's Yunnan Aluminium late Monday said it targets producing 1.4 million mt of alumina in 2018, up 65.1% from realized output in 2017, as a newly commissioned expansion project ramps up. Read more

US corn inspected for export up 2.3% on week, up 3.8% on year: USDA

The amount of US corn inspected for export rose 2.3% week on week to 1.409 million mt in the week ended March 15, US Department of Agriculture data showed Monday. Read more

Russian wheat exports up 40.5% year on year to 28.4 million mt

Russian wheat exports since 2017-18 marketing year started on July 1 were 40.5% higher year on year at 28.397 million mt, data from the ministry of agriculture showed Monday. Read more

Rain in the Heartland Drives Wheat Prices to a Record Decline

The heaviest rain in months in parched Kansas, the biggest U.S. grower of winter wheat, sent the grain price tumbling by a record 5.9 percent on speculation that the downpour will revive crops. Read more

Japan minister: Some products likely to get exempted from U.S. tariffs

TOKYO (Reuters) - Japanese Trade Minister Hiroshige Seko said on Tuesday there is a “high chance” that some Japanese steel and aluminum products will get exempted from new U.S. tariffs as they are not quickly replaceable. Read more

Freight Logistics

Dry Bulk FFA: Capesize Index Still Bearish

The Capesize index has broken its range support and is now bearish rather than bearish to neutral. Upside moves need to trade above USD 12,609 to create a fresh market high and signal the technical could be firming. Read more

The Charter Owned Fleet: Turning Tides

The structure of ownership in the boxship sector has changed considerably over the past two decades, with the presence of a large charter owned fleet now a more prominent characteristic than had historically been the case. Meanwhile, dramatic changes have also taken place within the charter owned fleet in recent years, the extent of which warrants a closer look. Read more

Japan offers to buy 127,338 tonnes of food wheat via tender

Japan’s Ministry of Agriculture seeks to buy 127,338 tonnes of food-quality wheat from the United States and Canada in a regular tender that will close late on Thursday. Read more

New freight service begins along New Silk Road

Amsterdam-based TMA Logistics has officially unveiled its investment in the New Silk Road Initiative, The Handy Shipping Guide reports. This investment is shown as a new rail freight service in the form of a direct rail freight connection between Yiwu, Zhejiang province in China and the Amsterdam Container Terminal in the Netherlands. Read more

Now that Uber Freight has launched, what does this mean for truckers?

Uber Freight has technically been playing the brokerage game for the past several years. Their app, which they still emphasize on their page, is a load-matching platform that pays drivers and carriers quickly. Across the industry that’s part of the new way of doing business that’s sure to improve at least one of the pain points for those on the front lines. Instead of getting paid 40-60 days later, you get paid within no more than a week—and transparently. Read more

Working together to achieve and validate freight ton efficiency

If you were at TMC last week you saw a pretty cool looking truck in the Shell Lubricants booth. Christened the Starship Project, the truck is a joint initiative between Shell and AirFlow Truck Company. Shell officials say the truck was designed to discover what’s possible in reducing energy consumption in transportation. Read more

Commodities

For China corn farmers, prices trump policy ahead of planting

BEIJING (Reuters) - China’s farmers are expected to plant more corn this year, eyeing higher prices and profits despite a push to reduce acreage devoted to the cereal under the government’s latest five-year plan. Read more

Tokyo Steel to hold product prices steady in April

TOKYO (Reuters) - Tokyo Steel Manufacturing Co Ltd, Japan’s top electric-arc furnace steelmaker, on Monday said it would hold product prices steady in April as it needs to ensure markets have absorbed its hikes from earlier this year. Read more

Commodities' dilemma: Strong China demand or Trump-led fears? - Russel

The tug-of-war between fundamentals and sentiment appears to be getting stronger for many commodities as the market tries to reconcile factors such as robust demand numbers from China and increasingly worrying rhetoric and actions from the United States. Read more

U.S. corn sales break records, but will demand stay healthy? – Braun

U.S. corn merchants have sold in excess of 650 million bushels since early January, shockingly more than usual for any time of year, and the demand prospects continue to look good as of mid-March with the U.S. product plentiful and attractively priced. Read more

Turkish thermal coal market suppressed by weak demand, falling European prices

The delivered price for thermal coal into Turkey has dropped again in the week to Friday on the back of low consumer demand and falling European prices. Read more

Norsk Hydro expands scope of independent review of Alunorte alumina refinery

Norsk Hydro has expanded the scope of an independent review of the Alunorte alumina refinery that it has commissioned Brazilian environmental consultancy SGW Services to do. Read more

Freight Logistics

Dry Bulk Market Looking for Capesize Support in New Week

There were finally reports of increased Brazil activity, but still largely unconfirmed. Vale reportedly took six ships Thursday for 5 April onwards, from Tubarao to Qingdao at $14.90, with three for delivery North West Europe, and three ballasters from the East. This may provide a much-needed boost to the Atlantic market, which took a big hit on Thursday, with a cargo fixed from Ponta Da Madeira to Dunkirk West and East, at just $6.50. There were various reports suggesting the time charter equivalent, but the consensus was that it equated to under $5,000 daily. Read more

Containers roundup: Supply chain maintains pressure on box rates

The supply chain maintained pressure on box rates for the main head-hauls this week. This is expected to continue for the rest of March as cargo allocations are inadequate. Read more

Iran Steel Exports Soar 52%

Iranian steelmakers exported 7.41 million tons of their products in the first 11 months of the current fiscal year (March 21-Feb. 19), registering a 52.2% year-on-year growth, the Iranian Steel Producers Association announced. Read more

Importers buy U.S. corn at record rate as drought tightens LatAm supplies

Importers are buying U.S. corn at the fastest pace since the mid-1990s, according to U.S. government data, as tightening stocks in Latin America prompt a rush to purchase cargoes of the grain from animal feeders worldwide. Read more

Freight rates held flat on ample position of trucks

Freight rates for nine-tonne pay load section ruled flat at the local truck transport market in the national capital today following comfortable position of trucks against restricted cargo movements. Read more

World rail freight news round-up

The European Rail Freight Association has said government rules which would enable Dutch infrastructure manager ProRail to vary track access charges must ‘reflect the ability of rail to compete with road rather than looking inwardly at the railway system’. ERFA said track access charges account for between 20% and 35% of freight operators’ costs, and any increase could 'weigh heavily' on rail’s competitiveness. Read more

Commodities

U.S. corn sales break records, but will demand stay healthy? – Braun

U.S. corn merchants have sold in excess of 650 million bushels since early January, shockingly more than usual for any time of year, and the demand prospects continue to look good as of mid-March with the U.S. product plentiful and attractively priced. Read more

Commodities' dilemma: Strong China demand or Trump-led fears? – Russell

The tug-of-war between fundamentals and sentiment appears to be getting stronger for many commodities as the market tries to reconcile factors such as robust demand numbers from China and increasingly worrying rhetoric and actions from the United States. Read more

Argentine drought-hit soy crop seen collapsing to 40 mln tonnes

BUENOS AIRES (Reuters) - Argentina’s Rosario Grains Exchange slashed 14 percent off its forecast for the country’s soy crop on Thursday, saying a drought now in its fourth month would limit the harvest to 40 million tonnes versus its previous estimate of 46.5 million. Read more

Importers buy U.S. corn at record rate as drought tightens LatAm supplies

CHICAGO (Reuters) - Importers are buying U.S. corn at the fastest pace since the mid-1990s, according to U.S. government data, as tightening stocks in Latin America prompt a rush to purchase cargoes of the grain from animal feeders worldwide. Read more

US coal production drops across all major basins as spring approaches

Weekly US coal production totaled an estimated 14.81 million st in the week ended March 10, down 1.9% from the prior week but up 2.4% from the year-ago week, US Energy Information Administration data showed Thursday. Read more

Mongolian Oyu Tolgoi's Q4 copper output rises 23% on quarter to 45,300 mt

Copper-in-concentrate production by Mongolian miner Oyu Tolgoi in the fourth quarter of 2017 surged 22.8% from Q3 to 45,300 mt, thanks to operational records set for open-pit mining and concentrator throughput, as well as higher grades and improved mill availability, parent company Turquoise Hill said in its annual report Friday.  Read more

Freight Logistics

Dry Bulk Newbuildings On the Rise Again, Prompting Oversupply Concerns Once More

While the overall sentiment in the dry bulk market is more than bullish for the long-term recovery, things can very quickly shift around making a rather unexpected U-turn. Read more

Dry Bulk FFA: Panamax Paper Market Bullish

The index remains bullish with the weekly stochastic now crossing the 50-level indicating momentum is strengthening on the weekly chart. Read more

Shipping ministry for bringing MTOs under self-regulation

The shipping ministry, which is finalising the draft of the Multimodal Transportation of Goods (MMTG) Bill, 2018, proposes to bring all multimodal transport operators (MTO) under self regulation, doing away with the mandatory registration and reducing intervention of the government.  Read more

Japan buys 119,610 tonnes of food wheat via tender

Japan’s Ministry of Agriculture bought 119,610 tonnes of food-quality wheat from the United States, Canada and Australia in a regular tender that closed late on Thursday. Read more

Greencarrier investing in new equipment to handle larger freight volumes and heavier cargo

It has been seven years since Greencarrier Freight Services entered the deep-sea shipping market between China and the UK. A lot has happened since then with growing customer demands and continuous investments to meet our customers’ various needs. This year, 2018, we incorporated a Straddle Carrier to our operations in Ipswich, Suffolk to be able to serve more customers in a quicker and more efficient way. Read more

Canadian railways feel the heat from U.S. grain companies

A coalition of U.S. grain companies has complained to the U.S. railway regulator about deteriorating service and new and higher charges at major North American railways. Read more

Commodities

South Korea's Dongkuk Steel to temporarily suspend U.S. exports amid tariff spat

SEOUL (Reuters) - South Korea’s Dongkuk Steel said on Thursday that it would temporarily halt its April exports to United States as the country tries to win exemptions from U.S. steel tariffs. Read more

High fiber: India cotton exports gather pace as global prices rally

MUMBAI (Reuters) - India’s cotton exports have been gathering pace after global prices jumped to four-year highs, with traders in the world’s top producer of the fiber signing contracts in the last three weeks to ship over 1 million bales, industry officials told Reuters. Read more

EU wheat steady with Chicago as market seeks weather clues

PARIS (Reuters) - Euronext wheat futures edged higher on Wednesday, supported by steady U.S. futures and an easing euro, while business was subdued as traders awaited fresh indications about crop weather. Read more

Global petroleum coke prices continue to push higher

Global petcoke prices kept chugging higher this week despite a consensus among buyers the market is overpriced and a correction is due. Read more

Analysis: Coking coal pricing holds up in Europe as China gap seen

European coking coal buyers may have factored in the potential for more spot price volatility, opting to buy a range of Australian and US coals for loading in the next few months using fixed prices at higher levels than current spot prices to China. Read more

Taiwan data: Jan ferrous scrap imports steady on month at 237,206 mt

Taiwan imported 237,206 mt of ferrous scrap in January, 0.5% higher than in the previous month, according to data released by the finance ministry Thursday. The figure was up 11% year on year. Read more

Freight Logistics

Dry bulk analysis: Atlantic Panamax freight market to see strong April rates

Atlantic Panamax freight rates are set to increase for April dates on the back of tight tonnage and increasing front-haul grain voyages from Brazil to China. Read more

Dry Bulk FFA: Capesize Market Still Looking for Upward Traction

Cape paper saw a small push in early trading albeit on small volume. The morning posititively failed to gain any traction, and as a result of another slide on the indices, ended the day with little change on the day. Read more

Supramax Paper Market Remains In Bullish Territory

The Index remains in bull territory and is now on a Leg 5 on the weekly chart. Near term technical resistance is at USD 12,118. Read more

Ex-Maersk executives bring blockchain and cryptocurrency to shipping

A new platform powered by blockchain technology and cryptocurrency could help save the shipping industry US$5.7bn annually. Read more

Waymo Autonomous Trucks Haul Freight in Atlanta

Alphabet Inc.’s autonomous vehicle division Waymo began this month operating an autonomous freight truck in the Atlanta area, carrying server equipment, racks and related material to Google data centers. Read more

DAT report: flatbeds on fire

Commodities

Polish JSW's 2017 coking coal output falls 7.8% to 10.676 million mt

Polish Jastrzebska Spolka Weglowa, Europe's largest coking coal producer, said its coking coal output in 2017 fell 7.8% to 10.676 million mt while external sales dropped 6.7% to 5.937 million mt following the sale of two mines. Read more

China's Mar 1-10 aluminum price inches up nearly 1% from Feb 21-28: NBS

China's domestic primary aluminum price averaged Yuan 14,059.9/mt ($2,225/mt) over March 1-10, up 0.8% from February 21-28, National Bureau of Statistics data released Wednesday showed. Read more

German utility deal turns coal veteran RWE into green giant

GERMANY'S biggest energy producer is grabbing onto a lifeline from the clean energy business in the utility industry's biggest shakeup in years. Read more

Large daily export sales of US corn continue: USDA

Large exports sales of US corn continued Monday for the fourth consecutive trading day, as reported by private exporters, including a "large sale" of 210,000 mt in the current marketing year (September 2017-August 2018) for delivery to South Korea, the US Department of Agriculture said Tuesday. Read more

Cocoa surges to top of U.S. commodity performers in 2018

U.S. cocoa futures have rallied more than 30 percent in 2018 so far, sharply outperforming other core U.S. commodities on signs of improving demand and forecasts for a smaller global surplus. Read more

Brokers lift ag price forecasts, but sceptical on recent gains holding

A Brokers have upped forecasts for prices of agricultural commodities, but remain sceptical of gains in prices of the likes of cocoa, cotton and wheat holding nonetheless, amid “profit-taking pressures”. Read more

Freight Logistics

OECD urges ‘dialogue’ on steel overcapacity to avoid a trade war

Governments should work together to fix overcapacity in the steel markets and avoid a trade war, the Organization for Economic Co-operation and Development (OECD) said. Read more

Argentine soy scorched beyond return, season ‘dead’ –experts

Hope has withered for any recovery in Argentine soy yields hit by a four-month drought that shows no signs of abating, farmers and analysts said on Monday, prompting China to step in to fill the gap in soymeal exports from the world’s No. 1 supplier. Read more

“Focus on steel overcapacity” instead of deploying US ‘Section 232’ tariffs says EUROFER

EU policy makers, member states, industry and trades unions must show solidarity in the face of the US’ tariffs on steel and aluminium. The US tariffs are the wrong approach to dealing with the global overcapacity problem in steel. Read more

China’s slow steel industry cuts unlikely to satisfy Trump’s demands

China’s steel mills, a target of US President Donald Trump’s ire, supply half of world output, so every move they make has a global impact. Read more

Iraq grain board chief sees bigger wheat crop as weather improves

Iraq’s new grain board chief said he expected local wheat production at no less than 2.5 million tonnes in the 2018 season, an improvement over previous forecasts on the back of recent rainfall. Read more

U.S. Steel raises 2018 earnings forecast on tariff bump

United States Steel Corp (X.N) raised its full-year earnings forecast, as the biggest U.S. steel maker expects to benefit from President Donald Trump’s imposition of hefty tariffs on imported steel and aluminum. Read more

Commodities

How big an economic threat are Trump's steel and aluminum tariffs?

U.S. President Donald Trump's announcement of hefty tariffs on imported steel and aluminum have several countries around the world frantically trying to seek an exemption from the world's biggest economy on the trade tax. Read more

Ghana May Struggle to Repay Lenders' $1.3 Billion Cocoa Loan

Ghana Cocoa Board may struggle to fully pay back loans of $1.3 billion as this season’s harvest will likely be smaller than first anticipated, according to the head of the industry regulator. Read more

Canada's Trudeau accuses China of 'dumping' steel on global markets

Prime Minister Justin Trudeau accused China of flooding global markets with cheap steel Monday, saying Canada has already taken steps to prevent "dumping." Read more

Dalian iron ore's losses deepen as bloated stockpiles weigh

Chinese iron ore futures fell further on Tuesday to near their weakest level since November as a mountain of stocks in the world’s top consumer pulled down spot prices to below $70 a tonne for the first time in three months. Read more

As copper booms, miners take hunt to Mongolian dunes

When temperatures rise and winds drop in the coming weeks, a band of explorers will hunt for copper riches in Mongolia's Gobi Desert. Read more

Indonesia to lose $630m in revenue from coal price cap

Indonesia's decision to impose a price cap on domestic coal prices will lower state revenue by up to 9 trillion rupiah ($630 million) this year, a senior finance ministry official said on Tuesday. Read more

Macri calls Trump to exempt Argentina from US steel tariff

Argentinian President Mauricio Macri last week called US President Donald Trump to discuss the possible exemption of Argentina from the US' imposition of a 25% tariff on steel imports, the Argentinian presidency press office reported Monday. Read more

Freight Logistics

NY cocoa climbs to 16-month high, raw sugar edges up

New York cocoa futures on ICE extended gains to a 16-month high on Monday on fund buying after data showed speculators took the most bullish stance in 1-1/2 years, while raw sugar edged up from the prior session’s 8-1/2 month low. Read more

US tariffs: Steel set for a bumpy ride

US President Donald Trump was true to his word and has imposed a 25% import tariff on steel and a 10% tariff on aluminium, with effect from 23 March. Read more

Chinese iron ore, coke futures fall again on soft demand, high steel inventories

Chinese iron ore futures declined for the seventh consecutive session to hit a nearly fourth-month low as steelmaking raw materials were pressured by soft demand for the metal and high product inventories held by trading companies. Read more

Miners Fight to Protect Commodity Gains From Increasing Costs

The world’s biggest miners, flush with profits from a recent commodity market rebound, are grappling with a new challenge: how to keep rising costs from eating into those hard-earned gains. Read more

SWPL seeks nod to import ‘high-grade’ ore from ‘Chile’

South West Port Limited (SWPL), a unit of Jindal Steel Works (JSW) which was asked to stop coal handling at Mormugao Port Trust due to excess coal handling, has asked the Goa state pollution control board (GSPCB) to let them import high-grade iron ore supposedly from Chile. Read more

Rail Shortages Are Knocking Ukraine’s Grain Expansion Off Track

Commodities

Corn as cash: Brazil's bartering farmers raise risks for Canada's Nutrien

WINNIPEG, Manitoba/SAO PAULO (Reuters) - Taking a page from its aggressive growth strategy in the United States, cash-rich Canadian fertilizer giant Nutrien Ltd plans to plow investment into Brazil in a bid to reap up to 30 percent of farm supply sales in fertile pockets of the country. Read more

Some Japanese aluminum buyers agree second-quarter premium at $129/ton, up 25 percent from first quarter: sources

TOKYO (Reuters) - Some Japanese aluminum buyers have agreed to pay a premium of $129 per ton for shipments from global producers in the April to June quarter, reflecting soaring U.S. spot premiums, two sources directly involved in the pricing talks said on Monday. Read more

Iraq seeks wheat of U.S., Canadian or Australian origin: ministry

BAGHDAD (Reuters) - Iraq’s trade ministry said on Sunday it was seeking 50,000 tonnes of wheat in an international purchasing tender. Read more

China steel exports may fall further in 2018: top executive

BEIJING (Reuters) - Chinese exports of steel products may continue to fall this year due to strong domestic demand and reductions in capacity due to environmental commitments, the chairman of state-owned mill Fujian Sangang Group Co Ltd said. Read more

Australian PWCS coal terminals' vessel queue falls to two ships

Port Waratah Coal Services' two terminals at Newcastle port in eastern Australia had two ships waiting offshore Sunday, down from nine ships a week ago, the Hunter Valley Coal Chain Coordinator said in a report over the weekend.  Read more

US steel tariffs to have limited impact to global coking coal supply: sources

US coking coal exports could be a victim of US President Donald Trump's blanket 25% tariff on the country's steel imports, but even though the US is the second largest seaborne supplier of coking coal after Australia, the impact on the global market will be limited, market sources said. Read more

Brazil on brink of a coffee boom

As Brazilian farmer Francisco Cesar Di Giacomo surveys his fields, he plucks a pod off a nearby coffee tree and splits it open with a penknife. He points to the thin husk: a sign that the beans inside will be plump and robust. Read more

Freight Logistics

South African coal favored for Indian import market

Sellers of South African thermal coal met with fair demand from Indian buyers in the week to Friday due to higher prices for the main competing origin of Indonesia and issues with domestic supply. Read more

Dry Bulk Market: Capesize Market Finds its Footing

Capesize: Some relief for owners as the week closed out with the market finding a floor in the East. Rates on the key West Australia/China run looked close to slipping under $6.00. But after a clear-out of some early ships, and increased activity from operators and miners, there was some resistance Read more

Shipbuilding: Steel Prices Are Rising….For Now

The US administration recently proposed the implementation of 25% and 10% import tariffs on steel and aluminum in an effort to support production of metals at home. Read more

Europe sails towards electrified shipping fleets

Since early 2015, a mid-sized car ferry, the MS Ampere, has been traversing the Sognefjord in western Norway from early morning to evening, seven days a week — without a whiff of smokestack exhaust or a decibel of engine roar.  Read more

Maersk teams up with Israeli startup accelerator theDock to search for new ideas

AP Moller Maersk has turned to a Tel Aviv start up accelerator in its drive to shake up maritime logistics. Read more

Tracking Down Shipping, All Around The World

The shipping industry is essential to the smooth functioning of the world economy, transporting around 85% of the world’s international trade in tonnage terms. Read more

Commodities

Indonesia caps domestic coal price for power stations, could hit miners

JAKARTA (Reuters) - Indonesia has capped the price of domestic coal for power stations at $70 per ton for two years, in new rules issued this week, a government spokesman said on Friday. Read more

Japan aluminum industry calls on U.S. to withdraw import tariffs

TOKYO (Reuters) - Japan’s aluminum industry called for the U.S. to withdraw new import tariffs on aluminum as it is deeply worried the U.S. move will not affect only the industry, but also global trade, an industry association said on Friday. Read more

US miner Corsa Coal to focus on met coal with thermal coal divestment

US miner Corsa Coal is selling its thermal and industrial coal division in Central Appalachia to focus purely on metallurgical coal, where it is growing production of low-vol coal and sales, it said Thursday. Read more

China's 2017 recycled aluminum output surges 11.6% to 6.75 mil mt: Antaike

China's national recycled aluminum output is estimated to be 6.75 million mt, up 11.6% year on year due to growth in both domestic and imported aluminum scrap supply and wider price gap between primary aluminum and recycled aluminum, state-run metals consultancy Beijing Antaike said Thursday. Read more

USDA lowers estimates for 2017-18 US, global ending corn stocks

The US Department of Agriculture on Thursday lowered its estimate for US corn stocks at the end of the 2017-18 marketing year to 2.127 billion bushels (54.029 million mt), down 225 million bushels from its February projection of 2.352 billion bushels. Read more

Brazil cuts 2017-18 corn crop estimate to 87.28 million mt

Brazil will harvest 87.28 million mt of corn in the 2017-18 season, federal government crop agency Conab said Thursday in a monthly report, down from 88 million mt in its February report. Read more

Emirates Global Aluminium to keep working with U.S. customers after tariff decision

DUBAI (Reuters) - Emirates Global Aluminium (EGA) said it would continue working with U.S. customers to support their businesses after President Donald Trump pressed ahead with a 10 percent import tariff on aluminum. Read more

Freight Logistics

Dry Bulk Market: Handies Looking Attractive By Many Shipowners

Buying interest in the smaller dry bulkers, i.e. the Handysize/Handymax segment has been steadily building up over the course of the past few months, as more and more owners are actively looking for investment opportunities Read more

China February iron ore imports fall 16 percent from month ago: customs

China’s iron ore imports in February fell 16 percent from the previous month, customs data showed on Thursday, as the nation’s week-long Lunar New Year holiday slowed shipments of the steelmaking raw material to the world’s top buyer. Read more

Shipping into a changing world

The International Shipping Industry still remains the only way to move the majority of minerals, energy products and manufactured goods between the nations of the world. Read more

Unmanned fully autonomous trucks are finally amongst us

The U.S. trucking industry is going through a series of disruptions over the last few years, both through technology and through operational regulations.  Read more

APL launches premium shipping service as air cargo capacity stays tight

The U.S. trucking industry is going through a series of disruptions over the last few years, both through technology and through operational regulations. It is common knowledge that truck drivers are hard to come by these days, and with regulations like the ELD mandate, the industry might run the risk of losing potential millennial drivers to the allure of other uncomplicated jobs. Read more

Container shipping rates could plunge after Asia-Latin America capacity hike

Container lines on the Asia-west coast South America tradelane are preparing for a fight for market share, as capacity is set to spike by 18%, year on year. Read more

Commodities

China's aluminum exports rise, steel down as Trump prepares tariffs

BEIJING (Reuters) - China’s aluminum exports grew more than 25 percent in the first two months of 2018, but steel exports fell by nearly a third, as the world’s top producer of the two metals faces scrutiny amid U.S. plans to impose hefty tariffs later on Thursday. Read more

China's Hebei aims to cut iron, steel making capacity by 20 million T in 2018

BEIJING (Reuters) - China’s top steelmaking province of Hebei will aim to slash iron and steel making production capacity by more than 10 million tonnes each and shut down all “zombie” mills this year, the province’s vice governor said on Thursday. Read more

China February iron ore imports fall 16 percent from month ago: customs

SHANGHAI (Reuters) - China’s iron ore imports in February fell 16 percent from the previous month, customs data showed on Thursday, as the nation’s week-long Lunar New Year holiday slowed shipments of the steelmaking raw material to the world’s top buyer. Read more

China February copper imports fall as Spring Festival crimps demand

BEIJING (Reuters) - China’s imports of copper fell 20 percent in February from a month earlier, dropping for a third straight month as a week-long shutdown for Lunar New Year crimped buying in the world’s biggest copper consumer, data showed on Thursday. Read more

US coal exports near 8 mil mt in January, down 7.6% from December: Census

US coal exports totaled 7.96 million mt in January, down 7.6% from December, but up 18.8% from the year-ago month, US Census data showed Wednesday. Read more

US steel sheet buyers wait on tariff clarity amid sparse openings

Spot availability remained limited in the US steel sheet market on Wednesday as mills and service centers await clarity surrounding President Trump's tariff decision. Read more

US grain rail shipments fall 3.3% on year: AAR data

US rail transportation of grain products for the week ended March 3 totalled 23,198 cars, down 3.3% compared with the year-ago week, Association of American Railroads data showed Wednesday. Read more

Freight Logistics

Dry Bulk FFA: Panamax Index Bullish

A higher high on the index is regarded as technically bullish and is now supported by the MA’s. the stochastic at 96 is inoverbought territory. Read more

Iron Ore Exports from Port Hedland up by 8% in February

Pilbara Ports Authority has delivered a total monthly throughput of 53.5 million tonnes (Mt) for the month of February 2018. This was an increase of 5% from the same month in 2017. The Port of Port Hedland achieved a monthly throughput of 39.3Mt. Read more

Chinese shipping firms buy ships as market recovery fuels optimism

A recovery in the shipping market has buoyed optimism among Chinese shipping companies, with many once again buying new vessels to expand their fleets. Read more

Serious fire on Maersk Line container vessel in the Arabian Sea

Tuesday afternoon, the Maersk Honam reported a serious fire in one of its cargo holds. 23 crew members have been successfully evacuated and search and rescue operations are ongoing for four crew members currently reported missing. Read more

The Digital Imperative in Container Shipping

The time has come for the container-shipping industry to join the digital revolution. Digital opens the door for carriers to strengthen their direct relationships with end customers, further reduce their costs (including for fuel, vessel operation, and customer service), and pursue new revenue streams beyond traditional shipping services. Read more

Rail investments can boost local economies

Infrastructure is at the forefront of policy discussions these days. The White House recently released its plan for a massive infrastructure program. Governors and state legislatures across the country are having their annual debates over how to stretch limited dollars and how to pay for much-needed infrastructure programs Read more

Commodities

Nexa sees strong zinc prices, demand outpacing supply

TORONTO (Reuters) - Brazilian miner Nexa Resources expects demand for zinc to outpace supply, keeping prices for the metal at $3,400 to $3,500 a ton for the rest of the year, Chief Executive Tito Martins said on Tuesday. Read more

U.S. metals tariff would hurt future returns: shale company CEO

HOUSTON (Reuters) - Pioneer Natural Resources Co Chief Executive Tim Dove on Tuesday said proposed U.S. tariffs on imported steel and aluminum would negatively impact his shale oil production company’s profits. Read more

Linking steel and NAFTA will not get a better deal: Canada's Morneau

VANCOUVER (Reuters) - Linking steel with the ongoing renegotiation of NAFTA will not improve the tri-country trade agreement and Canada will respond firmly but appropriately if the United States targets Canada’s steel or aluminum for tariffs, Finance Minister Bill Morneau said on Tuesday. Read more

Deal with excess steel capacity in global forum, OECD says

PARIS (Reuters) - Excess steel capacity should be dealt with in a global forum for the problem to avoid an escalation of trade disputes, OECD chief Angel Gurria said on Tuesday following the Trump administration’s plans to introduce import tariffs. Read more

Argentina approves GMO varieties for corn and soybeans

BUENOS AIRES (Reuters) - Argentina, one of the world’s leading exporters of foodstuffs, approved on Tuesday the use of two corn GMO varieties belonging to Syngenta and the local unit of Dow Chemical, and one soy GMO variety belonging to Bayer SA. Read more

Russian Feb coal exports down 4.5% on month to 13.99 mil mt

Russian coal exports totaled 13.99 million mt in February, down 4.5% on the month, but up 2.7% on the year, according to data from the Russian Energy Ministry Tuesday. Read more

Ukrainian corn hits 20-month high amid tight global market

Ukrainian corn has hit a 20-month high, underpinned by a tight global market and with slow internal logistics continuing to raise costs as exporters struggle to bring corn from farm to port, sources said Tuesday. Read more

Freight Logistics

Baltic Dry Index climbs to 1212, up 2 points

Today, Tuesday, March 06 2018, the Baltic Dry Index climbed by 2 points, reaching 1212 points. Read more

Dry bulk: Atlantic Panamax market taking a breather on spot shipments

The Atlantic Panamax spot market took a breather last week after 10 days of intense fixing at steady rates. Read more

Dry Bulk FFA: Capesize Paper Market Enters Bearish Mode

Cape paper started the week on a bearish note with prompt periods trading down, albeit it on low volume. Apart from cal 19/20 package which traded at a strong rate of 17250 there were no trades reported beyond Q2. With a physical index that is lacking any drive we are likely to see the carry on prompt periods erode further as the week continues. Read more

Imposing regulations on railroad industry will harm small business

March 7 is Railroad Day on Capitol Hill. Entrepreneurs, executives and workers from across railway industries will communicate to members of Congress how important railroads are to the U.S. economy. Make no mistake, the story of America’s freight railroads also is a small business story. The U.S. economy is an entrepreneurial, small business economy, with smaller firms being the majority in most industries. That’s no different in the sectors directly and indirectly impacted by freight railroads. Read more

Uber's Self-Driving Trucks Are Shuttling Customer Loads In Arizona

An unused port of entry facility in Topock, Arizona is now at the heart of Uber’s self-driving truck program. Read more

Truck rates soar amid new e-log regulations

KANSAS CITY — The cost of truck freight, if available, has jumped from 5% to 15% and much more in some cases since the U.S. Department of Transportation’s Electronic Logging Device (E.L.D.) rule went into effect Dec. 18, 2017. While it is hoped a 90-day exemption, which expires March 18, for agricultural products will be made permanent, nearly all other shippers are affected, and ultimately consumers will pay more for anything moved by truck, which is 70% of the nation’s freight volume by weight. Read more

Commodities

Continental Grain to push Bunge to consider potential sale: source

CHICAGO (Reuters) - U.S. agricultural investor Continental Grain Co plans to push Bunge Ltd (BG.N) to consider a potential sale, a person familiar with the matter said on Monday, after Archer Daniels Midland Co (ADM.N) approached Bunge about a takeover. Read more

Sudden jump in zinc stocks threatens bull party: Home

A bucket of cold water has just been poured on zinc’s bull fires. The London zinc price has been on a two-year romp, hitting a 10-year high of $3,595.50 a ton last month. Read more

Shanghai steel hits 1-wk low on lean demand, drags iron ore

MANILA, March 6 (Reuters) - Shanghai steel futures fell for a third session in a row on Tuesday, hitting a one-week low amid tepid Chinese demand and dragging down prices of raw material iron ore to the weakest in a month. Read more

Coal exports from Australia's Gladstone port remain weak in February

Export volumes of coal from the Port of Gladstone in Queensland, Australia, remained depressed in February, data from the Gladstone Ports Corp. showed Tuesday, as more rail issues developed.  Read more

US weekly corn inspected for export total falls 28% on week, 34.7% on year: USDA

The amount of US corn inspected for export dropped 28% week on week to 947,642 mt in the week that ended March 1, US Department of Agriculture data showed Monday. Read more

Rabobank downgrades Brazil coffee production forecast

Brazil’s next coffee crop may be big, but it might not be the monster harvest that the country’s government and some other analysts are forecasting. Read more

Freight Logistics

Dry Bulk Market: Panamaxes Lead the Rebound, as Capesizes Looking for Renewed Positive Momentum

Cautious optimism was eroded early in the in the first full working week since the Chinese New Year holidays. Rates quickly fell on the key West Australia/China run despite at least 10 ships fixed in one day. Read more

Coal stocks held by China’s key Bohai Sea ports rise 7% on week

Combined coal stocks at China’s key Bohai Sea ports of Qinhuangdao, Caofeidian, and Jingtang totaled 12.785 million mt on March 5, up 6.8% from 11.97 million mt on February 26, according to data released Monday by port operator Qinhuangdao Port. Read more

Drewry: Room for a little one

With full ships on only three services, the booming Asia to East Coast South America finally gets another service. Read more

Wärtsilä introduces Eniram Mobile to offer real-time decision-making support for voyage efficiency and safety management

Eniram, a Wärtsilä company, has launched Eniram Mobile to offer real-time decision-making support via mobile notifications. Eniram Mobile, which has been co-developed together with Royal Caribbean Cruises, ensures that key personnel receive important information in a timely fashion, both onboard and shoreside. Read more

Heavy-Duty Truck Orders Soared 76% in February

Trucking fleets are maintaining a strong pace for orders of big rigs as they bet that demand in the U.S. freight market will remain strong. Read more

Xinjiang's int'l rail freight bullish in 2017

URUMQI, March 5 (Xinhua) -- A total of 2,226 westbound international cargo trains ran through northwest China's Xinjiang Uygur Autonomous Region in 2017, according to local authorities. Read more

Commodities

China to cut more coal, steel output to defend 'blue skies'

BEIJING (Reuters) - China’s state planner pledged on Monday to cut more steel and coal production capacity this year, putting the country on track to beat its long-term targets, as Beijing reinforced its vow to beat smog and make“skies blue again”. Read more

As winter curbs end, China's aluminum smelters face new reckoning

BEIJING (Reuters) - Some Chinese aluminum producers that shut smelters during a winter crackdown on pollution may not reopen this spring once output curbs are lifted, as planned new capacity by state-run companies threatens to overwhelm demand and cut into profits. Read more

China soybean buyers will cope if U.S. trade spat hits imports: New Hope

BEIJING (Reuters) - Animal feed makers in China, the world’s top soybean buyer, will find ways to cope if a deepening trade dispute with the United States hurts imports of U.S. oilseed, the chairman of the nation’s top feed maker New Hope Group said on Saturday. Read more

Argentina drought bakes crops, sparks grain price rally

CHICAGO/CHIVILCOY, Argentina, March 5 (Reuters) - A rgentina’s worst drought in decades is shriveling farmers’ fields, sending grain prices soaring and forcing Bunge Ltd and other major crop processors to crush fewer oilseeds into feed that fattens livestock around the world. Read more

RPT-COLUMN-Copper spreads, a bear anomaly in a bullish market: Andy Home

LONDON, March 2 (Reuters) - The London Metal Exchange (LME) copper price has risen 26 percent since the start of January 2016. Read more

Coal stocks held by China's key Bohai Sea ports rise 7% on week

Combined coal stocks at China's key Bohai Sea ports of Qinhuangdao, Caofeidian, and Jingtang totaled 12.785 million mt on March 5, up 6.8% from 11.97 million mt on February 26, according to data released Monday by port operator Qinhuangdao Port. Read more

Government to help in upgrade of rice quality as exports hit high

Myanmar will likely export at least 3.2 million tonnes of rice by the end of the current 2017-18 fiscal year by month-end taking rice exports to their highest level in 70 years, according to officials from the Ministry of Agriculture, Livestock and Irrigation (MOALI). Read more

Freight Logistics

Dry Bulk Market Getting Airborne: Time To Fly?

In 1896, Wilbur and Orville Wright began to experiment with flight in their bicycle shop in Dayton, Ohio. But it was another seven years until the brothers successfully flew the world’s first powered aeroplane, with the maiden flight lasting just 12 seconds. Today’s bulkcarrier owners, holding out for loftier earnings, would likely empathise; getting airborne, and staying there, is a real challenge. Read more

Valemaxes could spell Capesize market’s doom

The first of the new Valemax very large ore carriers (VLOCs) loaded 400,000t of iron ore at the Brazilian port of Tubarao this week — spelling possible doom for Capesize shipowners. The vessel, which at over 300metres long is bigger than most skyscrapers, is part of Brazilian iron ore producer Vale’s plan to shift nearly all of its output away from the spot freight market. Read more

Spot market employment more profitable

Whether to employ a ship on time charter or in the spot market is a crucial question asked by many ship owners. Through a simulation study we were able to show that employing a Panamax on rolling spot contracts was more profitable than employment on a rolling one-year time charter. The rolling spot outperformed the time charter by $23 per day. However, the two strategies performed differently depending on the choice of investment horizon and market timing. Read more

Dry Bulk Owner Songa Bulk Looking for Further Expansion Amid Positive Market

The Company’s (Songa Bulk ASA with subsidiaries) net result in Q4 2017 increased compared to Q3 2017 as the Company took delivery of three vessels in the current quarter and vessels were chartered out on higher time charter (TC) rates. The highlights below are a comparative summary of Q4 2017 versus Q3 2017. Read more

Containers report: What we expect for March 2018

Carriers were optimistic about head-haul routes seeing box rate increases on February 1 and they were correct. Read more

World rail freight news round-up

Canadian Pacific Railway has launched its CP TempPro service for transporting products requiring strict temperature control. Read more

Commodities

Turkish steelmaker considers U.S. expansion after tariff increase

ISTANBUL (Reuters) - Leading Turkish steelmaker Borusan Holding is considering expanding its plant in the United States after U.S. President Donald Trump proposed a hefty increase to tariffs on imports, the company’s chief executive said on Friday. Read more

Russia says shares Europe's concern over planned U.S. steel, aluminum tariffs

MOSCOW (Reuters) - Russia shares Europe’s concern after U.S. President Donald Trump announced he would impose tariffs on imported steel and aluminum, Kremlin spokesman Dmitry Peskov said on Friday. Read more

Combined coal stocks held by China's six power plants rise 38% on week

Combined coal stocks held by the six key coal-fired power plants in southern and eastern China totaled 13.74 million mt on March 1, up 37.5% from February 22, according to figures released by Qinhuangdao Port on Thursday. Read more

Chile imports 850,000 mt of coal in December, down 4%

Chile imported 850,000 mt of coal in December, down from 4% from the same month of 2016 but up 29.7% from November, government data showed Thursday. Read more

Iranian steel billet export offers rise, semi-finished steel exports to rise 80%

Iranian steel billet exporters are now almost fully sold until end of April but expect higher bids for their next deals, a trader in Tehran told S&P Global Platts Thursday. Read more

Wheat specialists examine looming labeling rule

KANSAS CITY, MISSOURI, U.S. — With a warning-label compliance deadline looming, the wheat supply chain faces myriad unanswered questions related to the controversial listing of the herbicide glyphosate under California’s Proposition 65. Read more

U.S. grains: Wheat, soybean futures rally

Chicago | Reuters — U.S. wheat futures rose for the sixth day in a row on Thursday, with new forecasts calling for extended dryness in the U.S. Plains pushing prices to fresh 7-1/2-month highs, traders said. Read more

Freight Logistics

Dry Bulk FFA: Capesize Paper Market Active as Physical Appears to Have Bottomed Out

The physical market appears to have bottomed out and this brought buyers back to the table in the paper market. The morning session was very active with some good volume changing hands as rates ticked up down the whole curve. Read more

Go Maritime: Discussing Prospects and Threats Facing the Maritime Industry

ABS recently participated in the first Annual Go Maritime Educational event hosted by Isalos.net in London. ABS Senior Vice President for Europe, Vassilios Kroustalis, shared his views on the prospects and threats facing the maritime industry and how they will impact the next generation of shipping. Read more

Global Ship Lease Announces Agreement to Acquire 2,800 TEU Containership

Global Ship Lease, Inc. (NYSE:GSL), a containership charter owner, today announced that it has agreed to acquire a 2005-built, 2,800 TEU containership for a purchase price of $11.3 million. Read more

Unwrapping The Containership Delivery Schedule

At the start of 2018, the boxship orderbook stood equivalent to 13% of the fleet in capacity terms, close to the lowest level on record. Despite this, a still significant 1.7m TEU of capacity was scheduled for delivery in 2018.  Read more

The future of freight rail

DB Cargo is planning to equip its entire fleet with smart sensors, smart telematics systems and whisper breaks by 2020. Read more

Insuring Mexican drivers critical to moving NAFTA freight

According to the Bureau of Transportation Statistics, trucks moved $700 billion of NAFTA freight in 2016, accounting for 65.5% of all NAFTA trade between Canada, the U.S. and Mexico. About half, $362 billion, was import freight. Read more

Commodities

China's industry ministry to crack down on aluminum price speculation

BEIJING (Reuters) - China’s Ministry of Industry and Information Technology (MIIT) has pledged to strengthen its monitoring of the price of nonferrous metals such as aluminum in order to prevent “excessive” speculation that could distort the market. Read more

U.S. steel, aluminum executives invited to White House for possible announcement

(Reuters) - Several top U.S. steel and aluminum executives have been invited to the White House on Thursday for what could be a major trade announcement, according to two people familiar with the meeting. Read more

Australian Port Kembla's Feb coal exports dive 58% on year to 225,920 mt

Port Kembla Coal Terminal in the Australian state of New South Wales exported 225,920 mt of coal in February, down 58% fall year on year and down 26% from January, data from the operator showed Thursday. Read more

US grain rail shipments fall 5.4% on year in latest week: ARA

US rail transportation of grain products in the week ended February 24 totaled 20,143 cars, down 5.4% compared with the year-ago week, Association of American Railroads data showed Wednesday. Rail transportation of chemical products rose 0.1% year on year to 31,605 cars, the data showed. AAR designates fuel-grade ethanol as a chemical product.  Read more

Copper futures trading on the Comex market in New York fell for the fourth straight session on Wednesday on fresh doubts about the strength of the economy in top consumer China. Read more

Samarco iron ore mine could reopen this year

The Samarco iron ore mine in Brazil is likely to resume operations before the end of the year or early 2019 Vale (NYSE:VALE) executives told investors on Wednesday. Read more

Freight Logistics

Dry Bulk Market Prime for Yet Another Spike Says Shipbroker

The dry bulk market’s recovery is well underway, as evidenced by the firm activity noted even during the Chinese New Year Holidays, which are traditionally a period of easing. Read more

Robust Growth and Extreme Weather Halt China’s Coal Demand Slide

China’s coal demand in 2017 halted three years of declines amid accelerating economic growth and extreme weather. Read more

Caribbean Fundamentals Pressure Demand

Tanker Market Outlook, we explained our future expectations of weaker Aframax demand along the Caribbean > US Gulf trade, which accounts for roughly 4.7% of total sector ton-mile demand. Read more

Hong Kong Pacific Basin Shipping dismisses using scrubbers to meet IMO 2020 rule

Hong Kong's Pacific Basin Shipping -- one of the world's largest shipowner and operator of modern Handysize tonnage -- will likely opt for low sulfur fuel oil over scrubbers to comply with the International Maritime Organization's upcoming 0.5% global sulfur cap rule, the company said Wednesday. Read more

NAFTA ends 2017 with 14th consecutive monthly increase

The U.S. Department of Transportation’s Bureau of Transportation Statistics reports that in December trucks moved nearly 61 percent of NAFTA freight – with trains, planes, ships and pipelines picking up the rest. All five modes experienced an increase in freight year to year for the third consecutive month. Read more

Freight rail, intermodal deliver for regional economy

Infrastructure is front and center right now with President Donald Trump unveiling his long-awaited $1.5 trillion plan to fix the nation’s roads, bridges, airports, waterways and seaports. While policymakers on both sides agree that our infrastructure challenges need to be met, they disagree on the details — most notably, how to pay. Read more

Commodities

U.S. finds China aluminum foil imports dumped, subsidized

WASHINGTON (Reuters) - The U.S. Commerce Department said on Tuesday it had made a final determination that imports of aluminum foil from China are being sold in the United States at less than their fair value and producers are benefiting from subsidies from Beijing. Read more

GM cotton's return to Burkina Faso on hold over Bayer-Monsanto deal

ABIDJAN (Reuters) - Talks with Bayer to reintroduce genetically modified (GM) cotton in Burkina Faso are on hold pending the German drug and crop chemicals maker’s acquisition of U.S. rival Monsanto, the head of the West African nation’s top cotton company said on Tuesday. Read more

EU to act if U.S. introduces steel tariffs, Germany warns

BERLIN (Reuters) - European Union trade ministers agreed at a meeting on Tuesday that they would respond with counter-measures if the United States brings in import tariffs on steel and aluminum, German deputy economy minister Matthias Machnig said. Read more

Rusal quest for value to dent Glencore's aluminum clout

LONDON/MOSCOW (Reuters) - Mining giant Glencore’s deal to buy aluminum from Rusal will be renewed from 2019, but the tonnage is likely to be much lower as the Russian producer taps into growing demand for value-added products, two sources close to the matter said. Read more

AEP unit's Rockport plant in Ohio to switch almost entirely to PRB coal

Indiana Michigan Power is in the process of switching its 2,600-MW Rockport power plant in Spencer County, Ohio, almost entirely to Powder River Basin coal, a spokesman for the American Electric Power unit said Tuesday. Read more

Titan inks zinc concentrate offtake deal with Glencore

Titan Mining has signed a zinc concentrate offtake agreement with Glencore for the entire output of the company's Empire State mine in upstate New York, a Titan official said Tuesday. Read more

US Commerce sets AD, CVD determinations on Chinese aluminum foil

The US Department of Commerce determined Tuesday antidumping and countervailing duties on aluminum foil imports from China, with the decision now to go to the International Trade Commission.  Read more

Freight Logistics

Shipowners can chill the champagne says MSI – but choose wisely when to open it

Outlook for demand and supply in 2018 and beyond is positive almost across the board, but timing will be critical to capturing opportunities Read more

China’s coastal coal freight rates move up after Lunar New Year holidays

Freight rates for shipping coal from northern China’s Qinhuangdao port to the ports of Zhangjiagang, Shanghai and Guangzhou in the east and south China moved upwards after the Lunar New Year holidays, Qinhuangdao Port operator Tuesday said. Read more

Ship Finance International Hails Improved Capesize Market Conditions, Expects To Add More Vessels in 2018

Ship Finance International Limited announced its preliminary financial results for the quarter ended December 31, 2017. Read more

Greece’s Piraeus port enters new era with increasing handling capacity

Piraeus port, the largest harbor in Greece, entered a new era of handling 20,000 plus twenty-foot equivalent unit (TEU) vessels on Monday when China’s COSCO Shipping Taurus giga container vessel, one of the biggest worldwide, docked here. Read more

European Rail Freight Interests Demand Better Deal Against Road Haulage After French Report

FRANCE – Following the appointment of Air France KLM holding company chairman Jean-Cyril Spinetta in October 2016 by the country's prime minister to produce a report on the industry, the rail freight sector has waited to see what the 75 year old Parisian would produce, particularly given the level of debt the state rail group SNCF has incurred and the demands of the EU's Fourth Railway Package. Read more

Loadtap is using artificial intelligence to automate freight brokerage operations

At any given point in time, trucks numbering in the tens of thousands go about their business, hauling freight across the country's roads. In that vein, there are a lot of startups that are looking to provide track and trace solutions to 3PLs and brokerage firms for accurately determining a truck's location at a specific time. Most of these solutions in the market rely on internet connectivity, and many work through applications that are installed in the smartphones of truck drivers. Read more

February 27, 2018

Commodities

Japan steel industry head wants to see Japan excluded from U.S. import curb

TOKYO (Reuters) - Japan’s steel industry wants the country to be excluded from any U.S. import curbs as steel from Japan poses no threat to the U.S. national security, the head of the steel federation said on Tuesday. Read more

Shanghai rebar hits 3-month high amid Tangshan curbs, raw materials rally

Chinese steel futures jumped more than 3 percent to their strongest level in almost three months on Monday after China’s top steelmaking city said it will extend output curbs over the next eight months after the end of the winter heating season. Read more

Chinese January coal imports hit multi-year high: customs data

China imported 11.75 million mt of thermal coal in January, up 23% from 9.58 million mt in the year-ago month, and 30% compared with December, the highest monthly total since April 2014, according to customs data released Monday. Read more

Brazil's Alunorte alumina refinery to halve output: Norsk Hydro

Brazil's state environment office of Para has asked the Alunorte alumina refinery to cut production by 50% due to non-compliance relating to its bauxite residue deposit, majority shareholder Norsk Hydro said in a statement Tuesday. Read more

Tops in wheat, Russia moves up as a feed grain exporter

Due to a rapid improvement in yields, Russia is cementing its position as the world’s top wheat exporter and has become the fifth-largest exporter of feed grains (mostly barley), developments that squeeze the U.S. position in the world market. It is a dramatic change in rank for Russia. In the early 2000s, it was a net importer of grain. Read more

Iron ore price jumps to 10-month high

Steelmaking raw materials made strong gains on Monday as Chinese mills, responsible for half the world's steel output, on the back of speculations that the certain provinces may extend steel supply curbs beyond the winter. Read more

GRAINS-Wheat up for 4th session as US crop condition deteriorates

SINGAPORE, Feb 27 (Reuters) - Chicago wheat prices rose for a fourth consecutive session on Tuesday, trading near a seven-month high as the condition of the U.S. winter crop declines following dry weather, threatening to curb yields. Read more

Freight Logistics

Dry Bulk FFA: Panamax Market Starting to Strengthen

The index technical is starting to strengthen, however a higher high is still needed to be regarded as bullish. Read more

Banks Steer European Shipping towards Low Carbon

Efforts to green the European shipping industry have received a boost this week, with two major banks pledging to fund €300 million worth of clean tech investments in ships over the next three years. Read more

Australia’s New Century agrees deal to supply zinc concentrate to Belgium’s Nyrstar

Australian miner New Century Resources has agreed to supply zinc concentrate from its project in the country’s far north to Belgium’s Nyrstar , the two firms said on Monday. Read more

Essar Shipping set to double cargo tonnage to 30 MT by 2020

Essar Shipping Ltd (ESL), which had handled 13.06 MT cargo in the previous financial year and registered 28 per cent growth in total cargo tonnage in the third quarter of 2017-18, is all set to double cargo tonnage to 30 million tonne (MT) by 2019-20, said a company official. Read more

China’s top steelmaking city plans to extend output curbs to mid-November

China’s top steelmaking city of Tangshan has proposed new restrictions on production once the current curbs expire in March in order to improve air quality, according to a draft document reviewed by Reuters. Read more

Zambia urges mines to start moving 30 percent of cargo by rail

Feb 27 (Reuters) - Mining companies in Zambia, Africa’s No. 2 copper producer, should immediately start transporting 30 percent of their cargo by rail despite their concerns about inadequate capacity, the government said on Tuesday. Read more

Commodities

Norsk Hydro bids $345 million for Rio Tinto aluminum plant in Iceland

OSLO (Reuters) - Norway’s Norsk Hydro has made a $345 million binding offer to buy a Rio Tinto aluminum plant in Iceland in its drive to produce more aluminum using renewable energy sources and bolster its position in Europe.. Read more

Australian PWCS coal terminals' vessel queue rises on week to 17 ships

Port Waratah Coal Services' two terminals at Newcastle port in eastern Australia had 17 ships waiting offshore Sunday, compared to 16 ships a week ago, the Hunter Valley Coal Chain Coordinator said in a report during the weekend. Read more

Shipping gauge shows iron ore, copper prices heading for fall

Shipping Index came to prominence at the start of the Chinese-led commodity supercycle around a decade ago. Read more

China steel and iron ore futures soar on new pollution curbs

Steel and iron ore prices rose to year-to-date highs on Monday after China’s top steel-producing region announced it would extend winter production curbs intended to cut air pollution.Read more

Forget NAFTA, Possible Steel Tariffs Causing New Headaches In Canada-U.S. Relations

WASHINGTON — A new concern about Canada's relationship with the United States is emerging in the foreground, with threats of global steel and aluminum tariffs now competing with NAFTA uncertainty as a source of economic anxiety. Read more

ADM, Cargill to launch soybean joint venture in Egypt

(Reuters) - Grain traders Archer Daniels Midland Co and Cargill [CARG.UL] on Monday announced a joint venture that will supply soybean meal and oil for customers in Egypt. Read more

Australia's New Century agrees deal to supply zinc concentrate to Belgium's Nyrstar

MELBOURNE, Feb 26 (Reuters) - Australian miner New Century Resources has agreed to supply zinc concentrate from its project in the country's far north to Belgium's Nyrstar , the two firms said on Monday. Read more

Freight Logistics

 Capesize Market Rises Strongly with Rates Reaching Close to $16,000s

The market showed signs of recovery even before the Chinese return to work, with a push on the West Australia/China run. All the major Australian shippers came into the market and rates broke US$7.00 for 7-10 March cargoes, so far peaking at US$7.40 for 15 March onwards. Read more

Dry Bulk FFA: Capesize Market Futures Bullish for March

A higher high and a higher low on the index would suggest that we are now starting to base. The shorter period EMA’s have now flattened indicating we are in a ranging environment at this point.  Read more

Discussions continue on how to deal with 2020 non-availability scenarios

Agreeing on the details could be challenging as IMO works on dealing with potential non-availability situations when the marine fuel sulphur limit falls to 0.50%. Apart from dealing with non-availability cases, questions also need to be answered regarding unintentional and involuntary non-compliance with sulphur limits. Read more

Maersk: Canada's Trade Growth to Beat U.S.

Maersk Line's latest North America Trade Report, released last week, predicts that Canada's imports and exports will grow by seven percent in 2018, higher than that of the U.S. which the company predicts will grow by up to four percent. Read more

Global seaborne coal imports up 6.1 % in 2017

We estimate* that global seaborne coal imports in 2017 totaled 1.25 billion tonnes, a new all-time high, up 6.1% from 2016. Read more

Corporate America’s new dilemma: raising prices to cover higher transport costs

SEATTLE/BOCA RATON, Fla. (Reuters) - The drive for cost cuts and higher margins at U.S. trucking and railroad operators is pinching their biggest customers, forcing the likes of General Mills Inc and Hormel Foods Corp to spend more on deliveries and consider raising their own prices as a way to pass along the costs. Read more

Commodities

A South Africa's NUM union says members not paid at Gupta-owned Optimum mine

JOHANNESBURG (Reuters) - South Africa’s National Union of Mineworkers (NUM) said on Friday its members had not been paid on time at the Optimum coal mine, owned by the Gupta family, and would not return to work at the operation which has started business rescue proceedings. Read more

U.S. defense department says prefers targeted steel, aluminum tariffs

WASHINGTON (Reuters) - The U.S. Defense Department has voiced support for the Trump administration’s bid to impose national security restrictions on imports of steel and aluminum, although it would prefer a system of targeted tariffs and a delay for import curbs on aluminum. Read more

Seed firms scramble to stop a 'cancer' in Canada's cash crop

WINNIPEG, Manitoba (Reuters) - Inside a laboratory in Winnipeg, Manitoba, a Monsanto Co research technician uses tweezers to transfer pollen from one canola plant to another, a small step toward creating a new breed of the vegetable oil-producing crop. Read more

Indonesia postpones move requiring coal exporters to use national carriers

Indonesia has postponed the implementation of a regulation that would require coal exporters to use national maritime carriers and domestic insurance services, amid concerns about the impact on international trade, sources said Thursday. Read more

Iran's coated steel strip output jumps 42% on year: ISPA

Iran's coated steel strip output reached a record 1.26 million mt in the first 10 months of the Iranian year to January 20, up 42% from the same period a year earlier, according to the Iranian Steel Producers Association report released Thursday. Read more

FEATURE: US Commerce recommendation on Chinese steel tariff raises worries of retaliation against US soybeans

The US Department of Commerce's recommendation to impose a tariff on Chinese steel imports has sparked worries that China may retaliate against US soybean imports, sources have told S&P Global Platts. Read more

Iran's coated steel strip output jumps 42% on year: ISPA

Iran's coated steel strip output reached a record 1.26 million mt in the first 10 months of the Iranian year to January 20, up 42% from the same period a year earlier, according to the Iranian Steel Producers Association report released Thursday. Read more

Freight Logistics

Baltic Dry Index climbs to 1185, up 18 points

Today, Friday, February 23 2018, the Baltic Dry Index climbed by 18 points, reaching 1185 points. Read more

Dry Bulk Market: Iron Ore Import Licenses Witness Huge Jump

The Chinese government last month issued iron ore import licenses for 202 million tons. While the monthly licenses never equal the amount of iron ore that is actually imported in any given month, the 202 million ton level is very noteworthy as it is simply a huge amount. In comparison, the most recent peak in licenses seen last year was for a total of 140.8 million tons issued in September (actual imports that month came out to 102.8 million tons, which is the current record). Read more

Train shortage, power demand to drive resurgence in India’s coal imports

Caught between logistical bottlenecks and surging demand from power plants, India will likely increase coal imports in 2018, industry executives said, in what would be a setback to the government’s plans to cut the country’s dependence on foreign supplies. Read more

Maersk Would Be Ready to Move Closer to Junk ‘for Right Reason’

A.P. Moller-Maersk A/S this week renewed a pledge to creditors to protect its investment-grade rating. Read more

Economic Forecast Looks Strong for Trucking Industry

The trucking industry is jazzed about 2018. Read more

Flooding cripples grain barge shipments on U.S. Midwest rivers

CHICAGO (Reuters) - Grain barge shipping came to a near standstill in parts of the U.S. Midwest on Thursday as recent heavy rain and melting snow swelled rivers, halted barge loading and sidelined the towboats that haul farm belt crops to Gulf Coast export terminals. Read more

Commodities

Anglo's Once-Unloved Coal and Iron Ore Make the Most Money

Just two years ago, Anglo American Plc wanted to get out of iron ore and coal. Today they’re the mining giant’s cash machines. Read more

U.S. copper stocks sprint to record high, reflecting transport costs, weak demand

Record high stocks of copper in land-locked Arizona and Utah are a reflection of soaring transport costs in the United States and weak demand for the industrial metal produced in the Americas, copper industry sources say. Read more

Trump tariffs could benefit thriving Alumina

Alumina Limited boss Mike Ferraro says tariffs on aluminium imports to the United States could be a positive for the company, which he says is a more proactive company since reforming its joint venture with Alcoa in 2016. Read more

London metals sag on dollar, ShFE weakens on holiday return

London metals fell on Thursday after U.S. policymakers backed the need for more rate rises, pushing up the dollar and putting pressure on metals as trading in Shanghai resumed after a week-long break. Read more

Ternium Brasil, Calvert steel mill in Alabama extend slab deal length: CEO

The length of a supply deal between Latin American steelmaker Ternium's recently acquired Brazil slabmaking operations and the Calvert mill in Alabama owned by ArcelorMittal and Nippon Steel has been extended by 12 months to December 2020, CEO Daniel Novegil said Wednesday. Read more

Glencore posts $9.8 billion in 2017 coal revenues, up 43%

The Switzerland-based company, which posted $32/mt coal margins, attributed the revenue surge to various factors, including Chinese supply-side reform, and soaring global coal prices. Read more

Soybeans edge lower, but supported by expected Argentina production losses

U.S. soybean futures edged lower on Thursday, but the oilseed was holding just off a seven-month high as dry weather in Argentina is expected to slash production from the world's No. 3 exporter. Read more

Freight Logistics

Which sledgehammer will Trump use on U.S. aluminium imports? Andy Home

The U.S. Department of Commerce has “found that the quantities and circumstances of steel and aluminum imports” threaten to “impair the national security” of the United States. Read more

Turkish ferrous scrap import market nudges higher on continued demand

The Turkish ferrous scrap import market continued to shrug off uncertainty surrounding the US Department of Commerce’s Section 232 recommendations Tuesday, as strong domestic steel rebar buying offset tepid export demand. Read more

Japan receives no offers for regular feed-wheat, barley tender

Japan’s Ministry of Agriculture said it received no offers for feed-quality wheat or barley in a simultaneous buy and sell (SBS) auction that closed late on Wednesday. Read more

The world’s fourth largest iron ore producer wants to drive production costs even lower

After its production costs hit a record low in the last quarter, Fortescue Metals wants to drive costs even lower this financial year, according to the CEO of the Australian iron ore producer. Read more

Soybeans ease from 7-month high, wheat struggles near 2-week low

Chicago soybeans edged lower on Thursday, hovering just below a seven-month high reached on the back of dry weather curbing yields in Argentina, the world’s third largest exporter. Read more

Vale: 2017 Ramp-Up Propels Iron Ore Output To Record High

Vale ( VALE ) released its production report for the fourth quarter and full-year 2017 towards the end of last week, with record iron ore production levels the standout takeaway from the report. Read more

Commodities

Maximizing returns: Chinese steel mills to ramp up output before curbs bite again

MANILA/SHANGHAI (Reuters) - China’s steel producers are eager to unleash their mills’ capacity when this winter’s output curbs end next month, hoping for a repeat of last year’s record profits based on high margins and less competition as outdated plants were closed. Read more

Southern Copper wins tender for Peru's Michiquillay mine

LIMA (Reuters) - Southern Copper Corp won a tender to develop Peru’s estimated $2 billion Michiquillay copper mine in an auction that attracted just two bidders, the government’s Proinversion investment agency said on Tuesday. Read more

India to allow private firms to mine coal for commercial use

NEW DELHI (Reuters) - India will auction coal blocks to private companies, Coal Minister Piyush Goyal said on Tuesday, a move that would end restrictions on the sale and use of the fuel after more than four decades and end Coal India’s near-monopoly status. Read more

European thermal coal traders change strategy as Q2/Q4 contracts flip into contango

The front half of the CIF ARA thermal coal futures curve has shown a move into contango recently as low demand in the spot market has continued to pull the prompt contracts down, affecting trading strategy. Read more

Section 232 could heighten Europe's steel trade deficit

The implementation of Section 232 in the US could affect around 15% of all European steel exports, with over 3 million mt/year having to find a new home. Read more

US corn inspected for export up 10.9% on week, down 20.6% on year: USDA

The amount of US corn inspected for export in the week that ended February 15 rose 10.9% week on week to 938,099 mt, Department of Agriculture data showed Tuesday. Read more

GRAINS-Argentina drought fuels soymeal rally, lifting soy and corn

Feb 20 (Reuters) – U.S. soybean meal futures jumped to their highest level since July 2016 on Tuesday as a drought kept the heat on crops in Argentina, the world’s top exporter of the livestock feed. Read more

Freight Logistics

Dry Bulk Shipping: Q1 Requires Careful Handling As Seasonal Cargo Demand Drops

The first quarter of any year always represents a challenge for the shipping industry, with fewer cargoes being tendered and Chinese New Year in February creating recurring business issues. Read more

Global Grain Trade: A Multiplayer Game

Global grain trade, including wheat, coarse grains and soybeans, is set to exceed 500mt in the 2017/18 crop year, having grown by a CAGR of 4% since 2000/01. Read more

Maersk says to compete with UPS, Fedex as conglomerate breaks up

A.P. Moller-Maersk plans to expand its transport and logistics business to compete directly with package delivery companies UPS and Fedex as part of a major restructuring, its chief executive said Tuesday. Read more

27 mln tons of freight carried by rail, 35 tons via ports in 2017 in Estonia

During 2017, 27.3 million tons of freight was transported by rail in Estonia and 34.8 million tons of freight was transported via Estonian ports, Statistics Estonia said on Tuesday, cites LETA/BNS. Read more

U.S. trucking prices reach new highs: ACT Research

COLUMBUS, Ind. – ACT Research says U.S. truck pricing tracked by its Freight Rate Index reached a record high. Read more

Turkey's GSD Boosts Shipping Exposure on Global Economy Recovery

Betting that a strong global economic recovery will benefit the shipping industry, Turkey’s GSD Holding plans to invest further in the acquisition of new vessels. Read more

Commodities

Vedanta seeks to expand zinc output after price rally

LONDON (Reuters) - Vedanta may accelerate expansion of its African zinc operations to take advantage of prices that have reached their highest levels in a decade because of a shortfall following years of under-investment, its international zinc head said. Read more

How a U.S. coal deal warmed Ukraine's ties with Trump

KIEV (Reuters) - For the first time in Ukraine’s history, U.S. anthracite is helping to keep the lights on and the heating going this winter following a deal that has also helped to warm Kiev’s relations with President Donald Trump. Read more

Heat and lack of rain worries Ivory Coast cocoa farmers

ABIDJAN (Reuters) - Hot weather and below-average rainfall in most of Ivory Coast’s cocoa-growing regions last week raised concerns about the quality of the April-to-March mid-crop, farmers said on Monday. Read more

Colombia 2017 coal production falls 1.2% to 89.4 million mt

Colombia produced 89.4 million mt of thermal coal in 2017, down 1.21% year on year, the Ministry of Energy and Mines said Monday. Read more

NAB revises Japanese thermal coal contract price forecast for fiscal 2018-19 to $90/mt

National Australia Bank has revised its forecast for the thermal coal contract price for the 2018-2019 (April-March) Japanese financial year to $90/mt, up from its previous forecast of $80/mt, it said Friday. Read more

Analysis: Premium HCC rebound may leave market levels better supported

A rebound in spot premium coking coal prices has left market pricing better balanced with second-tier HCC and mid-tier PCI grades, according to S&P Global Platts analysis. Read more

Hopes high for Brazil's 2018 coffee crop, even as exports falter

Cecafe underlined the strong prospects for this year’s Brazilian coffee harvest, even as it unveiled an unusually sluggish start to 2018 for exports, and forecast a further slowdown. Read more

Freight Logistics

 Dry Bulk FFA: Supramax Index Bottoming Out

The index is now on wave 4 of a wave C corrective move and starting to show signs of basing. Read more

India to rely on imported coking coal for next decade at least: Coaltrans speakers

India’s steel industry is expected to depend heavily on imported coking coal for the next decade at least on the back of new infrastructure projects and due to its stunted domestic production, speakers at the Coaltrans India conference in Goa said this week. Read more

All aboard for hedge funds as trade tide lifts shipping

Forced to abandon ship after mistiming their investments five years ago, hedge funds are venturing back in a bid to profit from growing global trade flows. Read more

Med trade loses momentum

After a blistering start to 2017, Asia to Mediterranean trade slowed in the final three months of the year. Read more

Tight capacity and strong demand conspire to push US trucking contract rates to new highs

Recent rises in trucking prices in the US show no signs of abating, and despite the onset of the slack season hauliers remain keen to increase contract rates even further. Read more

China's robust appetite for raw materials to boost freight demand: Bimco

China's strong demand for iron ore, coal and crude is driving up the demand for ships and is serving as an engine of growth for the dry bulk shipping and the tankers' sector, Baltic and International Maritime Council said in a report last week. Read more

Commodities

US coal train loadings fall on week across all major basins

US coal train loadings fell 9.9% on week as volumes declined in all major production areas.  Read more

Steel stocks rally after US Commerce details tariff recommendations

The share prices of key steel equities in the US rallied sharply across the board Friday after US Commerce Secretary Wilbur Ross released details of recommendations to President Donald Trump regarding steel imports. Read more

Russian 12.5% protein wheat jumps to 33-month high on FX, market shorts

Russian 12.5% protein wheat at deep sea ports soared to $204/mt Thursday, its highest point since May 2015, according to S&P Global Platts data. Read more

Iran eyeing Iraqi flour market via Russia wheat deal

DUBAI (Reuters) - Iran is negotiating a wheat import deal with Russia that would allow it to increase flour exports to neighbouring Iraq, the secretary general of the Iran Federation of Food Industry Associations told Reuters on Saturday. Read more

U.S. agricultural merchants move to register as cooperatives

(Reuters) - U.S. agricultural merchants are scrambling to register themselves as cooperatives after a blunder in the country’s new tax law gave farmers a tax break for selling grains to co-ops rather than private firms. Read more

U.S. set to lose top spot as global corn exporter to Brazil

CHICAGO (Reuters) - Brazil could eclipse the United States as the world’s top exporter of corn within five years, ending decades of U.S. dominance over the market for one of the world’s basic foodstuffs. Read more

As mining investors push caution, Glencore differs from rivals

TORONTO/MELBOURNE (Reuters) - As shareholders push the world’s cash-rich miners to maintain lush dividends and make the most of existing assets, Glencore is taking a slightly different tactic that positions it for shrewd acquisitions. Read more

Freight Logistics

Dry Bulk Market: Freight Rate Prospects Looking Positive After Chinese Lunar New Year

Dry bulkers are hotting up price-wise, as the market’s prospects appear rosier than ever during these years of crisis. Read more

Bulkcarrier Deliveries: Still On The Slide

Against the backdrop of a shrinking orderbook, deliveries in the bulkcarrier sector have declined significantly since peaking in 2011, hitting their lowest level in deadweight terms since 2008 last year. Read more

Box Shipping Still Feeding The 5,000…

One of the great stories of the Bible’s New Testament centres on the feeding of a multitude of 5,000 with just five loaves and two small fish. Read more

Maersk’s CEO Can’t Imagine Self-Sailing Box Ships in His Lifetime

The chief executive officer of the world’s biggest shipping company says it’s unlikely container vessels will operate without humans in his lifetime. Read more

All aboard for hedge funds as trade tide lifts shipping

LONDON (Reuters) - Forced to abandon ship after mistiming their investments five years ago, hedge funds are venturing back in a bid to profit from growing global trade flows. Read more

China warns Trump over potential steel and aluminum tariffs

China is warning President Trump that it will take action if he puts heavy tariffs on imports of steel and aluminum. Read more

Commodities

Trump weighs tariffs, quotas on U.S. steel, aluminum imports

WASHINGTON (Reuters) - U.S. President Donald Trump said on Tuesday he was considering a range of options to address steel and aluminum imports that he said were unfairly hurting U.S. producers, including tariffs and quotas. Read more

Wyoming, Utah explore funding legal challenges to West Coast coal policies

WASHINGTON (Reuters) - Lawmakers in coal-producing Utah and Wyoming, faced by a shrinking market for the fuel, this week introduced laws to fund legal challenges in California and Washington of policies that they believe hurt coal sales. Read more

Exclusive: London Metal Exchange aims to ban metal sourced with child labor

LONDON/BEIJING (Reuters) - The London Metal Exchange could remove companies from its list of approved metal suppliers if they fall short of industry standards following an outcry about cobalt mined by children in Africa, three sources said. Read more

China urges US to exercise restraint on steel trade actions

China's Ministry of Commerce has urged the US to exercise restraint in using trade restrictions on steel imports ahead of a meeting between President Donald Trump and US lawmakers to discuss trade issues. Read more

McKinney updates U.S. Grains Council members on trade

USDA Under Secretary for Trade and Foreign Agricultural Affairs Ted McKinney updated delegates and members of the U.S. Grains Council on ongoing trade negotiations that will affect grains market access during a Monday, Feb. 12 speech at the 15th International Marketing Conference and 58th Annual Membership Meeting in Houston, Texas. Read more

Rio Tinto Announces C$250 MM Investment in Vaudreuil Alumina Refinery

Anglo-Australian mining giant Rio Tinto Group announced yesterday its decision to infuse C$250 million (US$199 million) into operations at Québec’s Vaudreuil alumina refinery. Read more

Australian wheat production drops 38%

CANBERRA, AUSTRALIA – Despite favorable weather conditions in parts of Australia this spring, total winter crop production dropped an estimated 36% to 37.8 million tonnes, including a 38% drop in wheat production to 21.2 million tonnes.

Other major winter crops were down including barley by 33% to 8.9 million tonnes and canola by 15% to 3.7 million tonnes, according to the latest Australian Crop report released by the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES). Read more

Freight Logistics

Dry Bulkers’ Newbuilding Contracting Retreats After Recent Flurry

As the level of newbuilding contracting will be crucial for the sustained recovery of the dry bulk segment, it’s perhaps good news that the recent flurry of activity was met with a standstill over the course of the past week. Read more

Dry Bulk FFA: Panamax Index In Bull Territory

The index is now on wave 3 of wave C corrective move and starting to look overextended. The futures all remain in bull territory but in corrective phases. Based on Elliott wave analysis we are on leg 4 corrective waves. This would suggest that market pullbacks should in theory hold between the 38.2% and 50% Fibonacci support levels. If the highs of leg 1 are broken, then it would suggest that the bull cycle is over. Read more

China Breaks New Ground… Again

Chinese seaborne imports of iron ore, coal and crude oil have all grown strongly throughout 2017. Both seaborne imports of crude oil and iron ore have reached the highest levels ever recorded, while coal reached the highest level in three years. Read more

Global Shipping Is On Course For Recovery In 2018, But All Eyes Are On Orderbooks

S&P Global Ratings believes that, in 2018, demand in the three main segments of the global shipping industry (dry bulk, tankers, and containers) will outstrip supply for the first time in several years. Read more

The World’s Biggest Container Shipping Line Is Now Worried About Amazon and Alibaba

The world’s biggest container shipping line is trying to stop customers like Amazon.com Inc. and Alibaba Group Holding Ltd. from becoming competitors in just a few years’ time. Read more

Trucking outlook positive, yet potholes lie ahead

NASHVILLE, TN. These are heady days for trucking, or what Bob Costello, chief economist for the American Trucking Associations (ATA), believes is perhaps the “greatest period” for the industry since it was de-regulated back in 1980. Read more

Commodities

China will contest any 'unfair' U.S. trade measures on steel: think-tank

China will oppose any “unfair and unreasonable” trade measures by countries such as the United States against its steel companies, a Chinese government think-tank said on Tuesday, arguing protectionism will “poison” the industry. Read more

China urges U.S. restraint on steel imports

China has expressed concerns over excessive protectionism in the steel sector by the United States, and urged it to show restraint in a probe into steel imports, an official with Chinese Ministry of Commerce (MOFCOM) said on Tuesday. Read more

Global thermal coal demand to outstrip supply, grow by 5% in 2018: Noble

Powered by Asia's continuing demand, the global seaborne thermal coal market is expected to grow by around 48 million mt or 5% from 2017 to touch 974 million mt in 2018, trading house Noble Group said Tuesday. Read more

Major US steel mills raising rebar prices by $25/st

Major steel mills are hiking rebar prices by $25/st in the US market, according to letters sent to customers first by Commercial Metals Co on Friday, followed by Nucor, Gerdau Long Steel North America and Steel Dynamics Inc. on Monday. Read more

Russian wheat exports up 36.7% on year to 24.5 million mt: Ministry

Russian wheat exports from July 1 to February 7 of the 2017-18 marketing year, were up 36.7% on the year to 24.514 million mt, data from the ministry of agriculture showed Monday. Read more

U.S. grains: Wheat, soy futures jump on weather woes

Weather concerns sparked a rally in U.S. wheat and soybean futures on Monday, with forecasts for dry conditions threatening to reduce harvests in key growing areas, traders said. Read more

Vietnam's coffee exports may climb 9% on rising production

Coffee shipments from Vietnam, the world's biggest robusta producer, will surge this year as farmers harvest a bigger crop, according to Industry and Trade Minister Tran Tuan Anh. Read more

Freight Logistics

Dry Bulk FFA: Quiet Day for Capesizes

A quiet day on Capes with the front coming under some pressure. Feb traded down to 13750 and March 16400. Q2 forward remained thin and without much offerside interest again. Read more

Rail fight threatens coal giants’ Australian exports

Australia’s top coal hauler, Aurizon Holdings Ltd, is on course for a showdown with the world’s biggest coal exporters after a regulator capped the revenue it can charge at A$1 billion ($783 million) less than the company sought. Read more

Dry Bulk FFA: Capesize Index Remains on Bearish Territory

Technically the index remains in bearish territory as it is below its medium term moving average. However, price action itself has now made a new high and this is a bullish signal. Read more

Baltic index drops on lower demand for panamaxes, smaller vessels

The Baltic Exchange’s main sea freight index edged down on Monday, falling for the first time in five sessions due to lower demand for panamaxes and smaller vessels ahead of the Chinese New Year that is also expected to weigh on demand. Read more

Dry Bulk, Container Markets Strengthened in 2017: Torvald Klaveness

Stronger markets resulted in improved results for the container segment and the dry bulk segment compared to 2016. The combination carriers continue to deliver satisfactory results, although impacted by a weak tanker market. Read more

WTO expects world trade growth to sustain momentum in first quarter

The trade recovery of 2017 should continue with solid trade volume growth in the first quarter of 2018, the World Trade Organization (WTO) said Monday in its latest World Trade Outlook Indicator. Read more

Commodities

US coal train loadings increase to high last seen in early September

US coal train loadings grew 5.2% week on week to a volume last seen at the start of September, railroad data showed. Read more

Indian demand for South African coal rises: sources

Indian buyers have increasingly been seeking higher-CV thermal coal from South Africa recently as US material has become more expensive and Chinese buying has mopped up any available volumes from Indonesia, traders said. Read more

China spot TC/RCs fall to $73-83/mt with pick-up in copper concentrate trade

Spot treatment and refining charges for imported copper concentrate for Chinese smelters were at $73-83/mt, and 7.3-8.3 cents/lb last week, down from $74-86/mt and 7.4-8.6 cents/lb in the preceding week, as trading picked up, industry sources said Monday. Read more

China's steel industry improves as capacity reduction pays off

BEIJING, Feb. 11 (Xinhua) -- China's steel industry posted higher prices and better profits last year as a result of progress made in reducing excessive capacity, according to the Ministry of Industry and Information Technology (MIIT). Read more

EU wheat eases with Chicago but holds onto weekly gain

Euronext wheat ticked lower on Friday, pressured by a pullback in U.S. futures from multi-month lows, but a weaker euro and rising Russian prices helped the market hold onto a weekly gain. Read more

METALS--London copper rises from two-month low, eyes Lunar New Year

MELBOURNE, Feb 12 (Reuters) - London copper rose from its lowest in nearly two months on Monday as the dollar dropped, although traders remained cautious about demand after the Lunar New Year holiday that starts this week. Read more

This U.S. Grain Market Got Spooked by a Chinese Trade Probe

Prices in the U.S. Midwest for sorghum, a grain commonly used to feed livestock, have plunged after China announced that it began an anti-subsidy and anti-dumping investigation into American imports. Read more

Freight Logistics

Dry Bulk Market On Firmer Ground

A switch to the Atlantic with rates firming as charterers seemed keen to fix and tonnage was tight, prompting a recovery in rates. Transatlantic coal runs were paying near the mid-teens for standard capes with rates tipping over US$9.00 for the Colombia/Continent coal run. Read more

Baltic index gains nearly 2 pct on capesize rally

The Baltic Exchange’s main sea freight index on Friday marked its best day in over two weeks, led by stronger demand for capesize vessels. Read more

Demolition Activity Stagnates, Trigerring Fears of a Slower Shipping Market Recovery

With the fragility in the dry bulk market’s recovery already noted and the rebound in the tanker market both hinging in solid levels of ships’ scrapping, as well as newbuilding delivery delays and slippages, the demolition activity so far in 2018 doesn’t seem to bode well for the future. Read more

Container shipping: More mergers, better mergers

A few precepts can help industry players better manage mergers and the integration process. Read more

The U.S. Is Running Out of Truckers

Economists debate how close the U.S. is to full employment, but less often discussed is where the most crucial constraints are in the labor market. Read more

China will crack down on illegal coal mining in 2018: safety watchdog

Commodities

Metals: Copper slips, on course for biggest weekly drop since early Dec

London copper prices edged down early on Friday, extending into a third day the recent declines triggered by the rout in global equity markets and another big rise in inventories on Thursday. Read more

EU wheat protected by snow cover but deep frosts in Germany eyed

A blanket of snow has protected wheat and other grain crops in major European producers from a dramatic cold snap this week, but double-digit frosts are causing concern in Germany, experts said on Thursday. Read more

Chinese coke futures fall for first day in seven, but outlook remains positive

Chinese coke futures fell on Friday for the first time in seven days as physical demand for raw materials dropped ahead of the Lunar New Year holiday that starts next week, though the outlook remains positive as demand should rebound after the holiday. Read more

Asia Coffee： Vietnam Jan coffee exports jump, Indonesia nears mini-harvest

Vietnam's coffee exports in January jumped beyond the government estimate ahead of a major holiday, official data showed on Thursday, while Indonesia is expected to be busier next week as it nears a mini harvest, traders said. Read more

Brazil raises soybean crop estimate, slashes winter corn crop projection

The Brazilian crop agency Conab on Thursday raised its estimate for the 2017/18 domestic soybean crop and cut the forecast for corn production. Read more

CIF ARA spot thermal coal price rises for first time in 12 days

The CIF ARA spot market rose 15 cents Wednesday, the market's first positive price movement for 12 days, as the market was bid and traded higher. Read more

US ferrous scrap imports set various annual records in 2017

US ferrous scrap exports may have rebounded from a five-year decline in 2017 but the pickup in activity on scrap coming into the US was even more significant as import volumes soared to a decade high while also setting records in several aspects. Read more

Freight Logistics

Demolition Activity Stagnates, Trigerring Fears of a Slower Shipping Market Recovery

With the fragility in the dry bulk market’s recovery already noted and the rebound in the tanker market both hinging in solid levels of ships’ scrapping, as well as newbuilding delivery delays and slippages, the demolition activity so far in 2018 doesn’t seem to bode well for the future. Read more

Coal buyers spooked by Indonesia’s new shipping rules –Assoc

Buyers of Indonesian coal are holding back orders of the fuel after the government issued new shipping rules for coal and crude palm oil that would restrict exports to Indonesian vessels, an industry association said on Thursday. Read more

Baltic index rises for third day on higher Capesize rates

The Baltic Exchange’s main sea freight index inched up for the third straight session on Thursday as higher capesize rates offset weakness across all other vessel segments. Read more

Argentine truck strike pressures more ports, lowers grain cargos

A truck owners strike that started last week in a bid to force the adoption of mandatory minimum grains hauling rates slowed the loading of export cargo ships on Thursday, said Guillermo Wade, manager of the Chamber of Port and Maritime Activities. Read more

European Commission confirms anti-dumping duty for Chinese coated steel

The European Commission confirmed Thursday anti-dumping duties of 17.2%-27.9% for corrosion-resistant coated steel from China. Read more

Cold start to year will have small impact on coal purchases: utilities

Major Eastern US utilities are expecting only a small increase in coal volume purchases following a cold start to the year, fuel buyers told attendees at the World Trade and Transport Conference in New Orleans. Read more

Commodities

Metals: Copper prices climb from 2018 lows on strong China imports

London copper prices climbed off seven-week lows on Thursday, buoyed by solid China import figures that bolstered optimism over the health of demand from the world's biggest metals user. Read more

China iron ore imports hit 2nd-highest on record on restocking

China’s iron ore imports jumped to the second highest level on record in January as the world’s top buyer built stockpiles ahead of the Lunar New Year holiday and the lifting of steel production curbs next month. Read more

Grains: Wheat prices hit 6-mth high on US weather, short-covering

Chicago wheat futures rose for a third session on Thursday to hit a six-month high, buoyed as dry weather threatens U.S. winter crop yields and as investors cover short positions. Read more

Turkey’s crude steel production hits historic high

Crude steel production in Turkey rose to an all-time-high in 2017, reaching over 37.5 million tons, according to data from the Turkish Steel Producers Association (TCUD) compiled by Anadolu Agency on Wednesday. Read more

ICO sees marginal global coffee deficit in 2017/18

The International Coffee Organization on Wednesday raised its forecast for global coffee production in 2017/18 to 158.93 million 60-kg bags, marginally above a previous forecast of 158.78 million. Read more

Indonesia's Feb HBA thermal coal price up 21% on year to $100.69/mt

Indonesia's Ministry of Energy and Mineral Resources set its February thermal coal reference price, also known as Harga Batubara Acuan or HBA, at 100.69/mt, up 20.8% year on year and 5.4% from January. Read more

Aluminum trade picks up in Asia on Lunar New Year stock builds, lower LME

Spot aluminum buying picked up during Asian trading hours Wednesday as buyers sought to stock up ahead of the Lunar New Year holidays starting next week, and also due to the London Metal Exchange price fall, sources said. Read more

Freight Logistics

Baltic Handysize freight rates hit new 13-month high

Freight rates for Handysize tankers in the Baltic have surged to their highest levels in more than a year as ice builds around the key Russian export ports along the Gulf of Finland, creating restrictions on which vessels charterers can use. Read more

Dry Bulk Market: Recovery Prospects Not Threatened by NewBuilding Ordering… For Now

In terms of the dry bulk market’s full recovery, a lot hinges on the pace of newbuilding ordering activity, with many analysts fearing that a boom in fleet growth will set the industry on the wrong foot again. Read more

Australia’s coal exports set new record in 2017

Australia’s coal exports value reached a new record of $56.5-billion in 2017, Minerals Council of Australia coal executive director Greg Evans said on Wednesday. Read more

Russia Jan coal exports up 2% on month to 14.9 mil mt

Russian coal exports totaled 14.9 million mt in January, up 2.1% from December's volume and the highest volume for this month since S&P Global Platts began collecting data in 2013, according to data from the Russian Energy Ministry Wednesday. Read more

US Data: Imports of Colombian coal dip in 2017, shipments from Indonesia rise

Colombia remained the largest exporter of thermal coal to the US in 2017, sending 5.47 million mt to American ports, although that figure was down 14% compared with the previous year, according to US Census Bureau data. Read more

Baltic index inches up on increased capesize activity

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, crept higher on Wednesday on firmer capesize rates. Read more

Commodities

Goldman Hails Outlook for Commodities as Market Turmoil Subsides

Goldman Sachs Group Inc. is standing by its bullish call on commodities, saying the recent global markets selloff only bolsters its view that raw materials are set to perform well in months ahead. Read more

Metals: London metals recover as stock markets bounce back

London metals on Wednesday recovered some of the ground they had lost in the previous session as global equities bounced back after days of sharp falls. Read more

EU steel sector sees demand growth in 2018, import threat

European steel demand is set to rise in 2018 with continued strength in most steel-using sectors, European steel association Eurofer said on Tuesday, while warning of a threat of rising imports. Read more

W.Africa to meet cocoa demand as other regions stagnate – Cargill

West Africa is meeting an ever larger share of the world’s booming demand for chocolate, as other cocoa-growing regions in the Americas and Southeast Asia see crops stagnate and farmers move into other areas, Cargill’s Africa director said. Read more

Chinese coal and coke futures extend gains on restocking

Chinese coking coal and coke futures rose for the fifth straight session on Wednesday as traders said steel mills were stocking up on raw materials ahead of a hoped-for resumption of full production after the upcoming Lunar New Year holiday. Read more

Kazakhstan stepping up rice production and exports

According to the Statistics Committee of Kazakhstan, 185.7 KMT of rice was produced in the country in 2017, or 3.3% more than in the previous year, reports UkrAgroConsult. Read more

European aluminum spot billet rises in January

European aluminum spot billet premiums were higher in January than in December as spot demand increased, albeit at a slower pace than a year earlier, market sources said. Read more

Freight Logistics

Newbuilding Orders Piling Up in Dry Bulk Segment

Increasing confidence in the dry bulk market’s long term recovery has triggered an increasing number of newbuilding orders over the course of the past week. Read more

Dry Bulk FFA: Panamax Index Reaches New Highs

The Index has recently made a new high, if we hold above the USD 10,517 support then it would suggest that the current move is basing. Read more

Baltic index posts first gain in seven sessions

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, rose for the first time in seven sessions on Tuesday, following a rebound in capesize rates. Read more

US coal exports total 88 million mt in 2017, up 60.9%: Census

US coal exports totaled 88 million mt in 2017, up 60.9% from the prior year, US Census data showed Tuesday. Read more

Turkish scrap market flat at $345/mt on quiet start to week

Platts TSI assessed Turkish imports of premium heavy melting scrap I/II (80:20) at $345/mt CFR Monday, unchanged from Friday's assessment. Read more

Impact of China's moves to set coal ceiling price, boost rail seen limited

The Chinese government's move to set a ceiling for domestic coal prices at Qinhuangdao Port was unlikely to have a significant impact on coal supply-demand fundamentals, however efforts to allocate more railway capacity to transport thermal coal amid strong winter demand could have some impact, market sources said Tuesday. Read more

Commodities

China's coke, coking coal futures defy global market rout

Steelmaking commodity coke surged to a six-week high in China on Tuesday, and steel and iron ore prices rose to their strongest in over a week, with investors raising their bets amid supply disruptions and defying a selldown in global financial markets. Read more

Metals: Metals buckle as 'risk off', strong dollar bite

London nickel fell three percent on Tuesday, leading the base metals complex towards late January lows as "risk off" sentiment soured sharemarkets and safe-haven buying lifted the dollar. Read more

World coffee supply seen moving to surplus on record Brazil crop: Reuters poll

Global coffee supplies will shift to a surplus in 2018-19 with top grower Brazil on track to harvest a record crop, but prices will rise modestly by the end of the year as countries restock inventories, a Reuters poll of 14 traders and analysts showed. Read more

Grains: Soybean prices fall to 3-wk low as rain expected in key grower Argentina

U.S. soybean prices fell for a fifth session on Tuesday to hit a three-week low, with hopes that rains forecast for Argentina could help limit damage to drought-hit crops in one of the world's top producers of the oilseed. Read more

Dalian iron ore edges up with steel after mills replenish for holiday

Chinese iron ore futures edged higher alongside steel prices on Tuesday, with most steel producers done with replenishing stocks ahead of the week-long Lunar New Year holiday. Read more

A third of S.Africa miners say no new investments in 2018 – survey

A third of South Africa’s largest mining companies are not considering any new investments in the sector in 2018 while one of them may even decide to pull out of the country, according to an industry survey published by the Chamber of Mines on Monday. Read more

Russian wheat exports up 33.8% year on year to 23.7 million

Russian wheat exports in the first seven months of the 2017-18 marketing year, which began July 1, were up 33.8% year on year to 23.724 million mt, data from the ministry of agriculture showed Monday. Read more

Freight Logistics

Baltic index falls to six-month low on weaker vessel rates

The Baltic Exchange’s main sea freight index slipped to its lowest level in nearly six months on Monday, weighed down by falling rates in all vessel segments. Read more

Baltic Dry Index falls to 1082, down 13 points

Today, Monday, February 05 2018, the Baltic Dry Index decreased by 13 points, reaching 1082 points. Read more

India’s growing economy holds promise for coal exporters

India’s growing economy is hungry for coal, with a huge demand for imported coal, delegates attending the IHS Markit South African Coal Export Conference, in Cape Town, have heard. Read more

Argentina truckers protest could paralyze grain exports

A protest by grain transporters in Argentina could leave exporters and crushers operating without soy, corn and wheat, an industry group said on Monday. Read more

US corn inspected for export up 6.2% on week, down 4.4% on year: USDA

The amount of US corn inspected for export in the week that ended February 1 rose 6.2% week on week to 1.074 million mt, Department of Agriculture data showed Monday. Read more

Chilean 2017 Cintac steel shipments up 8.2%, profit up 14.7% on year

Chilean steel service center Cintac delivered 304,000 mt of products in 2017, up 8.2% from 281,000 mt a year earlier, the unit of integrated steel group CAP said Monday. Read more

Commodities

Metals: London copper steadies, shielded by softer dollar

London copper steadied on Monday but looked fragile as risk off selling swept through Asia's stock markets, threatening to pressure metals that had found near-term support in a softer dollar. Read more

Russia's Rusal says aluminium production up 0.6 pct in 2017

Russian aluminium giant United Company Rusal Plc said on Monday its 2017 aluminium production increased 0.6 percent from a year ago to 3.707 million tonnes. Read more

South African coal loses Europe, but gains South Asia: Russell

A decade ago South Africa sent the bulk of its coal exports to Europe, a market now disappearing right before its eyes. Read more

Grains: Wheat falls 1 pct to hit 10-day low as snow blankets U.S. Midwest

U.S. wheat futures fell more than 1 percent on Monday to hit a 10-day low as heavy snow fell across the Midwest, easing fears that recent adverse weather will curb production from the world's largest exporter. Read more

China’s benchmark power coal price ends decline

China’s benchmark power coal price ended declines during the past week due to rising consumption from coal-fired power plants. Read more

Iran exports 5.37 mln tons of minerals to Afghanistan in 9 months

Iran's mineral exports to Afghanistan have reached 5.37 million tons since last March, the Financial Tribune reported Sunday. Read more

Vietnam’s rice export to enjoy prosperous year in 2018

Vietnam shipped nearly 6 million tones of rice in 2017, up one million tones compared to the year before. Read more

Freight Logistics

Baltic Exchange: Capesize rates came under pressure this week

From 1 March 2018 the BDI will be re-weighted to the following ratios of timecharter assessments: 40% capesize, 30% panamax and 30% supramax and will no longer include the handysize timecharter average. Read more

Brazilian pig iron exports heat up in February on forecasts of high demand

The Brazilian pig iron export market began heating up early February, with demand, mostly from the US, foreseen to jump 15% this year, market sources said. Read more

Official: China’s steel demand has peaked

China’s demand for steel has peaked and the coming 14th Five-Year Plan period (2021-25) will witness a decrease in steel consumption in the construction industry, while demand in the manufacturing sector is expected to remain at the same level, according to a senior official. Read more

Ukraine Farms Wary of Planting More Corn Even as Price Recovers

Some of Ukraine’s biggest corn growers are reluctant to expand production even though prices have recovered to an 18-month high. Read more

Indian steel output to jump after budget infrastructure boost – govt official

India’s steel output is expected to rise by a record 10 percent during the next fiscal year starting on April 1, a government official said on Friday, driven by a budgeted increase in infrastructure spending in the world’s third-largest producer of the alloy. Read more

Global steel sector in a sweet spot, but for how long?

Global production of crude steel rose by 5.3 percent last year, according to the World Steel Association (WSA). Read more

Commodities

Lead hit its highest in 6-1/2 years on Thursday, catching up with sister metal zinc, as a harsh winter in the United States and China hits supplies and as Beijing continues to restrict output on environmental grounds. Read more

About 300,000 tonnes of Pakistani wheat sold for export

About 300,000 tonnes of wheat from Pakistan was sold to overseas buyers in January after the country started a new state export incentive programme, European traders said on Thursday. Read more

U.S. steel executives urge Trump to curb steel imports

The chief executives of top American steel companies and related groups urged President Donald Trump on Thursday to urgently impose trade measures to curb excess steel capacity and surging imports they say are undermining the U.S. industry. Read more

Ghana cocoa purchases fall short, may miss output target

Ghana's cocoa purchases fell between October and mid-January compared to last season and it may miss its full-season output target because of dry weather, senior regulatory sources said. Read more

Goldman's Most Bullish on Commodities Since Supercycle Ended

Goldman Sachs Group Inc. is more bullish on commodities than any time since the end of the supercycle in 2008. Read more

Japan's spot CIF aluminum trade hits 8,300 mt in Jan, highest on record

Spot trade of aluminum imports aligning to Platts specifications into Japan totaled 8,300 mt in January-- the highest seen since S&P Global Platts records started in 2016. Read more

Turkey petcoke imports fall near 7% in 2017 to 4.18 million mt

Fuel grade petroleum coke imports to Turkey fell in 2017 to 4.18 million mt, down 6.6% on year, data from the Turkish Statistical Institute showed Thursday.  Read more

Freight Logistics

Dry Bulk FFA: Capesize Index To Face Further Pressure

The index has completed 2 impulse waves down, this could be a simple A,B,C correction, however with the stochastic still below 50 we have the potential to see a 3rd impulse wave down. Read more

Baltic index stretches losing streak, hits near 6-month low

The Baltic Exchange’s main sea freight index extended its slide to a fourth straight session to touch a near six-month low on Thursday, as rates fell for all vessel segments amid a seasonal slowdown in demand. Read more

Dry Bulk: Is a More Cyclical Market with Smaller Volatility Back In Play

Ever since the collapse of Lehman Brothers almost a decade ago and the collapse of world trade which followed, the shipping industry has been plagued with a recurring theme: intense volatility of the freight market, with very steep ups and downs in what seems like a rollercoaster ride, which the industry hasn’t been accustomed to. Read more

US weekly corn net export sales up 23% on week, above market expectations

US net export sales of current and next crop corn totaled 1.882 million mt in the week that ended January 25, up 23% from 1.531 million mt in the previous week, Department of Agriculture data showed Thursday. Read more

Guinea's GDM ships first bauxite ore

Guinean bauxite mining company La Guineenne des Mines (GDM) shipped the first ore from its project in the western Boke region on Thursday and will target exports of 2 to 4 million tonnes this year, its chief executive said. Read more

Baltic sea index to become tradable after benchmark changes

Changes to the Baltic Exchange’s main sea freight index has created the possibility of it becoming a tradable instrument for the first time, industry officials said on Thursday. Read more

Commodities

Metals: London metal prices slip, manufacturing growth stems losses

London copper slipped on Thursday as buying dried up ahead of the Lunar New Year in mid-February, but a flurry of encouraging manufacturing reports out of Asia stemmed losses. Read more

Bangladesh to scrap planned rice imports from Thailand

Bangladesh will scrap a plan to import 150,000 tonnes of rice from Thailand, agreed at $465 a tonne in October, head of the state grains buyer said on Thursday. Read more

China's Hebei denies reports on steel production curb extension

China’s top steelmaking province Hebei denied news reports that it will extend steel production curbs imposed for the winter season, the provincial government said on Thursday in a statement on its Weibo account. Read more

Supply worries drives zinc prices to new highs

Finance Nine reported that Zinc prices surged to the highest since 2007 on January 29th 2018 as falling stockpiles suggested tight supplies, while expectations of strong demand pushed nickel to a two-and-a-half year peak after it broke through a key technical level last week. Read more

Glencore says copper output will rise as Katanga ramps up

Glencore on Thursday said copper output in 2018 should rise to nearly 1.5 million tonnes as its Katanga mine in Democratic Republic of Congo ramps up to add roughly 150,000 tonnes, as well as 11,600 tonnes of cobalt. Read more

Finland 2017 thermal coal consumption falls 10% on year to 3.2 mil mt

Finland's thermal coal consumption in 2017 fell 10% year on year to 3.2 million mt, according to data from Statistics Finland released Wednesday. Read more

US hot-rolled steel coil prices continue climb as lead times jump

US hot-rolled steel coil prices rose further Wednesday as lead times at US sheet mills continued to extend, according to market sources.  Read more

Freight Logistics

Baltic index falls, capesizes mark worst month in 2 years

The Baltic Exchange’s main sea freight index fell on Wednesday as rates fell across vessel segments with the capesize index recording its biggest monthly percentage decline in two years. Read more

Vessel queue at Richards Bay Coal Terminal drops to 14: cFlow

Some 14 ships were delayed outside Richards Bay Coal Terminal in South Africa Wednesday, down from 16 last week, according to data from cFlow, S&P Global Platts trade flow software. Read more

Growing supply moderates 2018 coking coal prices: Fitch

Fitch expects coking coal prices to continue to moderate in 2018, as supply grows due to the relaxation of China’s 276-day rule, the recovery from Cyclone Debby, and other producers’ additional supply. Read more

China aluminum semis exports to rise further ahead of US 232 decision

Chinese aluminum semis exports are likely to rise further in the coming months ahead of the US' decision on the Section 232 investigation into whether Chinese imports into the US threaten national security, Chinese sources said Wednesday. Read more

Indonesian suppliers struggle with long vessel queues: sources

Indonesian thermal coal suppliers are struggling with long vessel queues at South Kalimantan due to delays in loading amid bad weather -- disrupting the supply flow, sources said. Read more

US grain rail shipments down 1.1% on year: railroads group

US rail transportation of grain products for the week ended January 27 totaled 22,538 cars, down 1.1% compared with the year-ago week, Association of American Railroads data showed Wednesday. Read more