Iron Ore to Displace Soybeans as Brazil's Main Export Earner
Brazil's iron ore export revenues are set to surge 60% this year and displace soybeans as the country's number one source of foreign exchange earnings for the first time in six years, Brazil's Foreign Trade Association (AEB) said on Tuesday.The forecast $41.25 billion revenue, together with potential record soybean export volumes, means Brazil is on track to post an overall trade surplus this year of almost $80 billion, AEB Chief Executive Jose Augusto de Castro told Reuters.The new AEB forecasts followed surging prices and strong demand from China.
Galoni Named CEO of Thordon Bearings
Anna Galoni was appointed chief executive officer (CEO) of Thordon Bearings Inc., a Thomson-Gordon Group company.Galoni joined the Burlington, Ontario-headquartered company in 2007 after graduating from Queens University with a Masters’ Degree in epidemiology. Prior to her appointment in April, she held a number of senior roles in various departments including human resources director, new product development director and, subsequently, chair, Thordon Bearings, a position she continues to hold.Her appointment follows the retirement of Terry McGowan…
New Guidance Published on Marine Transport of Ores and Concentrates
Updated guidance from the International Council on Mining and Metals (ICMM) outlines the techniques required for accurate hazard assessment of ores and concentratesAiming to help minimize the risk of accidents in maritime transportation, the Hazard Assessment of Ores and Concentrates for Marine Transport: Guidance 2021 brings the previous guidance issued in 2014 in line with recent regulatory updates from the International Maritime Organization (IMO) and advancements in knowledge in assessing hazards.Through ICMM’s Mining Principles…
Konecranes Wins Chinese Order for Two Barge Cranes
In the first quarter of 2021, Jiangsu Zhenjiang Shipyard (Group) Co., Ltd. ordered two eco-efficient Konecranes Gottwald Model 8 Cranes on Barge. The cranes will be operated by Cosco Shipping Bulk Co. Ltd. (Cosco Bulk) off the coast of Guinea, Africa.Home to the world’s largest reserves of bauxite, the Guinean mining industry has been expanding. Cosco Bulk, a subsidiary of a world-leading shipping company, China Cosco Shipping Corporation Limited, found they needed more cranes to cope with the volume.
SSY Publishes Shipping Outlook for 2021
After a highly volatile 2020, shipbroker Simpson Spence Young (SSY) looks at the next 12 months and highlights areas of particular interest in their 2021 Outlook Report. The report looks at various drivers of the shipping markets, including how the developing emissions regulations may affect commercial fleets and shipping investments.Contributions come from a range of senior research and broking experts and cover dry bulk, tanker and gas freight markets; shipping investments, CO2 emissions, FFAs, metals and energy derivatives.
Training Tips for Ships - Tip #20: Training in the Age of Data
As we greet 2021, it seems fitting to address a “big” topic - a topic that is ultimately going to change everything, including (and perhaps especially) training. The topic is “big data”. The goal of today’s Training Tip for Ships is to get us thinking about big data in training. If we understand it, we can lay the groundwork to take advantage of it.We are in the data age – and this is especially important for training. Everything we do can be done more efficiently and more effectively by understanding it more deeply.
Mercuria Teams Up with Envysion for Project Investment
Trading house Mercuria and Singapore-based asset manager Envysion Wealth Management have agreed to co-invest in mining and energy projects, as default-hit banks tighten their purse strings and leave commodities firms seeking other funding.The deal, signed on Wednesday, will see Mercuria present potential projects for investment to Envysion, founded and led by former Julius Baer banker Veronica Shim. Envysion will then decide whether to participate via a fund with a start-up amount…
US Hits Iran With Fresh Sanctions
The United States on Tuesday blacklisted a Chinese company that makes elements for steel production, 12 Iranian steel and metals makers and three foreign-based sales agents of a major Iranian metals and mining holding company, seeking to deprive Iran of revenues as U.S. President Donald Trump's term winds down.In a statement, the U.S. Treasury Department named the China-based company as Kaifeng Pingmei New Carbon Materials Technology Co Ltd.
Bucher Named CEO at Victaulic
Victaulic appointed Rick Bucher as Chief Executive Officer, succeeding John F. Malloy, effective January 31, 2021. Dr. Bucher was named President of Victaulic in April of 2020, following a June 2019 appointment as Chief Operating Officer. Prior to joining Victaulic in 2009 as Vice President of Engineering, Dr. Bucher worked for 15 years for W.L. Gore, a manufacturer of technologically advanced composite materials. Dr. Bucher received a B.S. and M.S. in engineering from Rice University and a Ph.D. in material science from Virginia Tech.Dr.
US Targets Coal Shipments in Fresh N. Korea-related Sanctions
The United States imposed new sanctions on six groups and four vessels related to the transport of North Korean coal on Thursday, including operations based in China, the Treasury Department said on Tuesday."The DPRK (North Korea) continues to circumvent the U.N. prohibition on the exportation of coal, a key revenue generator that helps fund its weapons of mass destruction programs," Secretary Steven Mnuchin said in a statement.
Glencore Boss Glasenberg Steps Down, Nagle Named CEO
Glencore boss Ivan Glasenberg is to step down next year and Gary Nagle, head of coal assets at the mining and trading group, will become the new CEO.Glasenberg's departure will mark a shift to a new, younger leadership for the business, which, along with other mining companies, has faced increasing pressure from investors to cut carbon emissions.Glasenberg, 63, has been chief executive since 2002 and investors have been expecting a succession plan after several senior members…
Four New Dual-fuel Bulkers to Support U-Ming Charter Deal
U-Ming Marine Transport Corporation, Taiwan’s largest publicly listed bulk carrier company, secured a 10-year liquefied natural gas (LNG) dual-fuel dry bulk charter contract with global mining company Anglo American.A fleet of four LNG dual-fuel Tier III 190,000 DWT bulk carriers measuring 299 by 47.5 meters each will be built by Shanghai Waigaoqiao Shipbuilding (SWS) to support the charter. The new ships are expected to be delivered through 2023.The ships will be fitted with MAN Energy Solutions’ high-pressure ME-GI engines.
Top Global Traders Push to Cut Shipping Emissions
Some of the world's biggest commodities and energy players on Wednesday launched an initiative to cut and track emissions from the ships they charter as efforts intensify to reduce the maritime industry's carbon footprint.About 90% of world trade is transported by sea, and the UN shipping agency the International Maritime Organization (IMO) aims to reduce overall greenhouse gas emissions by 50% from 2008 levels by 2050.Carbon emissions from shipping rose in the six-year period to 2018 and accounted for 2.89% of the world’s CO2, the latest IMO-commissioned study showed, mounting pressure on the
How the Major Dry Bulk Commodities Drive the Freight Market into Q4
The world is in the midst of the second coronavirus wave and with that comes the natural question of how the current dynamics will play out for the dry bulk shipping market. Demand and the subsequent cargo flow of the major dry bulk commodities are critical for the freight market, as we enter the final quarter of the year.Iron ore…has without question performed well this year, on occasion even better than gold, driven by the robust demand generated by China, as the world’s leading iron ore consumer.
Beirut Blast a Wake-up Call on Dangers of Ammonium Nitrate
The devastating explosion in Beirut should be a wake-up call for countries on the dangers of ammonium nitrate, which caused the blast, experts say.Lebanese authorities said 2,750 tonnes of the industrial chemical had been stored for six years at Beirut port without safety measures. That stockpile exploded on Tuesday, killing more than 150 people, injuring thousands and leaving about a quarter of a million people homeless.Commonly used in fertilizers and as an industrial explosive…
Port of Rotterdam to Trial PIN-free Container Handling
This week, various parties in Rotterdam will be launching a new pilot project, in which containers are handled and released without a PIN code: a widely used verification method in this transport segment. The project revolves around a new application, Secure Container Release, which replaces the PIN code with a digital signal: a solution that is significantly less susceptible to fraud. It is not only intended to make container handling more efficient, but also safer. Participants in the three-month trial include CMA CGM…
Port of Mobile to be Deepened to 50 Feet
The State of Alabama and the U.S. Army Corps of Engineers entered into the Project Partnership Agreement twio deepen and widen the Port of Mobile to 50 feet in late 2024 or early 2025.Colonel Sebastien P. Joly, Commander of the Mobile District, and John C. Driscoll, Director and Chief Executive Officer of the Alabama State Port Authority, signed the agreement, which allows the Corps of Engineers will move into contracting and construction phases of the approximately $365.7 million project…
COVID-19 Weighs on Great Lakes-Seaway Shipping
While St. Lawrence Seaway cargo volumes decreased during the past two months due to economic shifts related to COVID-19, industry leaders said the binational trade and transportation corridor is ready to play its part in the economic recovery efforts in the coming months. Meanwhile, with an increased focus on commodity diversification through project cargo, international shipments of wind energy components in the Great Lakes region are taking off.Overall St. Lawrence Seaway tonnage from March 15 through May 31 totaled 7.7 million metric tons, down 10% compared to the same time period in 2019.
Japan Exports Slump as Coronavirus Hits Demand
Japan's exports slumped the most in nearly four years in March as U.S.-bound shipments, including cars, fell at the fastest rate since 2011, highlighting the damage the coronavirus pandemic has inflicted on global trade.Monday's bleak data underscored the challenges Prime Minister Shinzo Abe's government faces in dealing with a collapse in activity that is expected to send the global economy into its deepest slump since the Great Depression of the 1930s.After a jump in virus cases…
Retreating Chinese Steel Stockpiles a Positive for Iron Ore Demand -EastGate
Chinese steel stockpiles reached record highs amid the coronavirus outbreak, but are now steadily easing. This paints the picture of an increased construction activity and a growing seaborne demand for the key dry bulk commodity of iron ore, says EastGate Shipping Inc. Demand returning to normal levelsSteel inventories in China have been showing a steady downward trend following the all-time highs recorded in mid-March. The virus crisis triggered a nationwide lockdown halting most manufacturing and industrial activities. Subsequently, demand for steel products was negatively affected.
Transnet to Cut Transport of Non-Essential Cargo During Lockdown
South Africa's logistics firm Transnet said it would reduce transport services and non-essential cargo operations during a nationwide lockdown that began at midnight on Thursday to contain the coronavirus.The state-owned company said shipments of metals and minerals would depend on demand and government approval. It was unclear if these exports would be affected.The transport of coal to state-run utility Eskom's power stations would continue, Transnet said.Transnet operates nearly three quarters of the African rail network…
More Bad News for Bulkers, as South African Ports Close for Mineral Exports
South Africa's main export terminals will be closed to mineral exports from midnight on Thursday when a nationwide 21-day lockdown over coronavirus begins, disrupting copper supply chains linking major producer Zambia to Asian consumers.Miners in the Zambian copper belt typically transport copper overland to South Africa's ports, where it is exported mainly to China, the world's biggest consumer of the metal."All bulk terminals (mineral mining commodities) will be closed," a note from Transnet Port Terminals read, according to a shipping agent.
Yara Appoints Askeland as New CSO
Yara Marine Technologies has appointed Aleksander Askeland as Chief Sales Officer, effective March 1st. Askeland has worked for the broader Yara group since 2016, starting in the Industrial segment for the Environmental Solutions business unit, then managing the Animal Nutrition Business unit (350 MEUR revenue). He has also worked on strategic projects in Supply Chain and Strategy & Business Development.Prior to joining Yara, Askeland worked four years as Director for Sales & Business Development for the Store Norske mining company in Svalbard.
Pintsch Bubenzer Moves for Zuchowski in Ports, Offshore
Pintsch Bubenzer USA has named Mike Zuchowski regional sales manager for ports in the western region of the states and Canada.The manufacturer of high-performance disc and drum brakes for steel cranes and other severe duty applications is seeing high demand for its products from the ports and offshore market. Zuchowski will focus on the West Coast, Pacific Northwest and West Canada, while Sean Sheridan’s nationwide role has been refocused in line with ongoing growth in the sector.Ports and offshore are two very different markets, however.
Australia Ship Sim Center Opens
The Western Australian Minister for Ports, the Hon. Alannah MacTiernan MLC opened the expanded facilities of HR Wallingford’s new Australia Ship Simulation Center.HR Wallingford has added two new purpose-built simulators to its center in Fremantle, bringing the total number of simulators that it owns and operates there to six. This makes it one of the largest ship simulation centers in Australia and allows a full maneuvering team (including pilots, tug masters and vessel traffic service (VTS) operators) to conduct integrated and immersive full port scenarios.In her speech…
CSSC, DNV GL Deal for Futuristic Shipping
The largest shipbuilding group in the world, China State Shipbuilding Corporation (CSSC), has entered into a new strategic partnership with DNV GL, the international accredited registrar and classification society headquartered in Høvik, Norway.A framework agreement between both parties was signed by Qian Jianping, Vice President of CSSC, and Norbert Kray, Regional Manager for Greater China at DNV GL – Maritime. The ceremony was witnessed by Remi Eriksen, Group President & CEO of DNV GL…