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Freight rates for large capesize dry cargo ships on key Asian routes could rise next week on higher volumes of iron ore cargoes, ship brokers said. "It's a bit more positive, optimistic next week," a Singapore-based capesize broker said on Thursday. Australian iron ore miners BHP Billiton and Fortescue Metals Group, which have largely been absent from the chartering market this week, could step up iron ore shipments on higher iron ore prices, brokers said. "It's only really been Rio Tinto that's been active for much of this week. BHP has taken the odd ship," the Singapore broker said. All the iron ore cargo charters from Australia to China this week were fixed at $4.55 per tonne, signalling a flat market, brokers said.

The improved sentiment surrounding the outlook for China's demand for natural resources is being reflected by rising imports for some major commodities, but as usual it pays to be wary when interpreting the numbers. Customs data released this week shows strong import growth in the first two months of the year in copper and crude oil, a more modest expansion in iron ore and a surge in imports of alumina and bauxite, the main raw materials used to make aluminium. Taken at face value this lends support to the view that China is heading for a better spring season after a gloomy autumn and winter cast a pall over the outlook for demand in the world's largest consumer of commodities.

Shipments of iron ore to China from Port Hedland, Australia, which handles a fifth of the world's seaborne trade, fell 17.6 percent in January from the previous month after a tropical cyclone closed the port temporarily, port data showed. Tropical Cyclone Stan made landfall as a Category 2 storm early Sunday about 120 km (75 miles) northeast of Port Hedland. The storm closed the port for 48.8 hours, Pilbara Ports Authority, which operates the facility, said in a statement on Wednesday. The disruption occurred as the appetite for iron ore in China, the top consumer of the steelmaking raw material, has declined amid a slowdown in the country's economic growth and a sharp downturn in its property sector.

Baltic Dry Index hits all-time low of 468 points on Tuesday. China's dry-bulk shipping industry will likely see a surge in bankruptcies this year as freight rates hit record lows and the country's demand for imports wanes, consultancy Shanghai International Shipping Institute (SISI) said. A number of firms have already gone bust over the past year as the industry grapples with the worst downturn on record due to stalling demand for iron ore and coal from China and a global surplus of vessels. With benchmark freight rates now at an all-time low, finances will be further stretched for shippers. According to the SISI, more than 60 percent of the dry-bulk shipping firms it surveyed were struggling with long-term losses, while about 40 percent faced liquidity problems.

Brazil's Vale SA said on Friday that it plans to sell its 11 remaining Valemax iron ore carriers and lease them back in transactions that could raise $1.1 billion. Vale has said it has experienced some delay in selling the ships, the key to its attempt to cut transportation costs between its Brazilian mines and Asian customers, as it seeks to get the best freight rates under contracts to lease the ships back from the new owners. Each more than 360-meter-long (1181-ft-long) ship can carry 380,000 to 400,000 tonnes of ore and are among the biggest vessels afloat. Vale has been selling its part of the world's 35-vessel Valemax fleet for about $110 million each, Luciano Siani, chief financial officer of Rio de Janeiro-based Vale told investors at a conference in London.

Brazilian mining company Vale SA was downgraded late on Thursday by the Standard & Poor's credit-rating agency over concern that a drop in iron ore prices will erode revenue at the world's largest producer of the main steel-making ingredient. New York-based S&P reduced the company's rating to "BBB," the second-lowest investment grade level, from "BBB+." S&P had cut the company's rating to BBB+ in January. A BBB rating means a company has "adequate capacity to meet financial commitments, but (is) more subject to adverse economic conditions" than higher-rated companies, according to the agency. S&P, which took Vale off a "credit watch," said the outlook for Vale's rating was negative.

China has amended rules around ships it will allow to berth at mainland ports, paving the way for Brazilian miner Vale to ship iron ore in its giant 400,000 deadweight tons (DWT) carriers. Vale's mega ships, the world's biggest bulk ore carriers, have been barred from China since January 2012 due to rules which disallowed ships of more than 250,000 dwt in capacity. An internal circular issued last week by the Ministry of Transport and seen by Reuters on Wednesday said it would now recognise ships with capacity of 400,000 dwt. It suggests that ports able to accommodate such large ships can now apply for permission to receive them, analysts said.

General Dynamics Mission Systems makes its debut as General Dynamics' newest business unit at the Surface Navy Association's (SNA) 27th National Symposium. General Dynamics Advanced Information Systems and General Dynamics C4 Systems combined to form General Dynamics Mission Systems on January 1, 2015. "This restructuring has allowed us to create a real powerhouse. We are stronger together and offer a more robust portfolio of products, services and solutions that help customers successfully execute their missions in today's dynamic environment," said Chris Marzilli, president of General Dynamics Mission Systems. "Our exhibits at SNA highlight our collective capabilities from which the U.S. General Dynamics Mission Systems will deliver greater capability more efficiently.

Brazil's Vale SA on Friday inaugurated a $1.4 billion port in Malaysia able to receive and blend iron ore from its mega-ships, an important step in the miner's battle to cut transportation costs to the crucial Chinese market. Brazil's distance from China - which accounts for nearly 70 percent of the global seaborne market for iron ore - has been a distinct disadvantage in Vale's attempts to compete with closer Australian rivals BHP Billiton Plc and Rio Tinto Plc. The port in Malaysia, as well as the giant ships known as Valemaxes, are part of a plan to address the problem. Its urgency has grown this year as the price of iron ore has tumbled 40 percent. Such a facility is particularly important as a two-year-long ban on Valemaxes docking at Chinese ports remains in force.

Brazil's Vale posted a surprise loss of $1.44 billion on Thursday, hurt by a fall in the price of iron ore, higher production costs and a weakening Brazilian currency. Analysts said the results were disappointing and suggested Vale might find it harder than expected to fund expansion projects over the next two years and its dividend could be cut. The performance will be taken as an ominous sign by some as Vale competes with Australian rivals Rio Tinto and BHP Billiton to increase production and cut costs in the face of an iron ore price near five-year-lows. The world's largest producer of iron ore mined a record amount of the steel-making ingredient during the quarter, but Vale's slight rise in production was not enough to offset the plunge in price.

Brazilian miner Vale SA posted a sharp decline in profit from the previous quarter as lower iron ore prices undermined record production of the steel-making ingredient. Vale, the world's largest producer of iron ore, reported second-quarter net income of $1.43 billion, down 43 percent on the previous quarter and below the average analyst estimate of $1.89 billion in a Reuters survey. "It was a very challenging environment where the price of our most important product has dropped by 15 percent," Chief Financial Officer Luciano Siani said in a video accompanying results. Net income was more than three times higher than the year-ago quarter, when a one-time foreign exchange charge slashed profit to $424 million.

Brazil's MMX said late Wednesday it approved the lease and possible sale of its Corumba, high-grade iron ore unit, part of efforts to raise cash and restructure the troubled mining company controlled by Brazilian tycoon Eike Batista. The Rio de Janeiro-based company, formally known as MMX Mineracao e Metalicos SA, did not name the person or company that has agreed to lease the mining rights of its MMX Corumba unit in Brazil's Mato Grosso do Sul state near the Bolivian border. The plan was approved by the MMX board, the company said in a securities filing. MMX shares rose 0.55 percent in late-morning trading in Sao Paulo Thursday, putting the stock on track for its biggest one-day gain in nearly two weeks.

At the 151st Annual Meeting of the Members of ABS, and the subsequent meeting of the ABS Council, industry leaders were elected to serve on a number of bodies that contribute to the operation of the classification society as it fulfills its mission of promoting the security of life and property and preserving the natural environment. "ABS' strength as a global classification society is drawn from its membership and the many regional, national and technical committees that contribute to the process of developing practical, impartial and authoritative standards," said ABS Chairman Robert D. Somerville. •    Robert G. •    James G. •    Maria F. •    Chow Yew Yuen, Keppel Offshore & Marine USA Inc. •    Dr. Jen-Hwa Chen, Chevron Shipping Co. •    Dr.

Command Information Officer. Management enterprise, which the company has been supporting since June 2000. The award continues CACI's business with the U.S. company's core engineering and logistics business area. operating forces, naval bases, and the communities in which they are located. public safety, and command and staff. families displaced by Hurricane Katrina. information networks. for the innovative Navy-Marine Corps Intranet project. with technical expertise, to the U.S. enterprise," said Paul Cofoni, CACI President of U.S. Operations. CACI Chairman, President, and CEO Dr. J.P. of CACI's business strategy. of client service and added value.