Metals

Australia's FMG postpones loading of iron ore term cargoes: sources
Australian iron ore exporter Fortescue Metals Group deferred the loading of some of its long-term contractual iron ore cargoes due to equipment issues, customers of the miner told Platts Monday. A Singapore-based customer said there were "quite a few" parties affected by cargo delays, and that he had been told by FMG that these were brought about by problems with some equipment.
 8/1/2013
China’s Finished Steel Demand Holds Up In 2012
MEPS predicts that Chinese mill output of finished steel for sale in 2012 will climb to 706 million tonnes – up 6.8 percent, year on year. Apparent consumption is expected to expand by 5.7 percent to reach 680 million tonnes. The majority of increased demand has come from the construction sector – building of affordable homes, some real estate activity and investment in new railway projects.
 8/1/2013
Iron ore, copper outrunning modest China PMI rally Copper and iron ore, the industrial metals most likely to benefit from China's renewed growth, have enjoyed strong starts to the new year but they run the risk of rallying too hard, too quickly. 7/1/2013
India Losing Iron Ore Market as Courts Shut Mines Ambar Timblo has no work. For the first time in six decades his family’s iron ore mines in India’s western state of Goa are idle. A court-imposed ban on production drove away his biggest buyers in China and Japan. 7/1/2013
Copper near 2-1/2 month high on U.S. deal, China data Copper rose for a second session to near 2-1/2 month highs on Thursday, on continued relief over a last-minute deal in the United States to avert a "fiscal cliff" of tax hikes and spending cuts, and upbeat data from top copper consumer China. 4/1/2013
Gold Reaches Two-Week High as Commodities Gain on Budget Gold rose to a two-week high in New York, as commodities gained and the dollar weakened after U.S. lawmakers passed legislation to avert the so-called fiscal cliff of automatic spending cuts and tax increases. 3/1/2013
Rio Tinto Reaches 10-Month High on Iron Ore Price Rio Tinto Plc (RIO), the world’s second- largest mining company, rose to its highest in 10 months as iron ore prices topped $140 a ton for the first time in eight months. 3/1/2013
ArcelorMittal to sell a 15% interest in ArcelorMittal Mines Canada for $1.1bln ArcelorMittal announced that it has entered into an agreement pursuant to which ArcelorMittal's wholly owned subsidiary ArcelorMittal Mines Canada (AMMC) and a consortium led by POSCO and China Steel Corporation (CSC) will enter into a joint venture partnership that will own ArcelorMittal's Labrador Trough iron ore mining and infrastructure assets. 3/1/2013
Copper rallies on U.S. fiscal deal, strong China data Copper rose to a three-week high on Wednesday and approached its biggest daily rise since mid-November, as U.S. Congress struck a deal to avert a fiscal disaster and upbeat data from top metals consumer China boosted the outlook for demand. 3/1/2013
Iron ore swaps expand gains on broader market rally, physical's rise Iron ore swaps posted gains as trading kickstarted for the year with global financial markets supported by the 11th-hour deal overnight in Washington averting "the fiscal cliff" while China's extended holiday left physical trade quiet. 3/1/2013

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5/24/2013
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Jinhai Heavy bags order for 10 eco containerships from SinOceanic


SinOceanic Shipping ASA has entered into a contract with Jinhai Heavy Industries, China, to build 10 x 8800 TEU state-of-the art super eco containerships for delivery from mid 2015. Upon delivery, all vessels will enter into long term, fixed charter parties, a company press release reads.

The vessels will be built to meet the latest IMO CSS Code for container vessels, where keels are laid on or after 1 January 2015.

The total transaction, consisting of the combined value of the vessels and the charter parties, has a total gross value of approximately USD 2.4 billion.

SinOceanic Shipping ASA will provide management services during the building process and after delivery of the vessels. The company will receive a customary annual management fee for the services rendered.




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