Gold Rush Draws Hundreds of Dredging Rafts to Amazon Tributary
Hundreds of dredging rafts operated by illegal miners have gathered in a gold rush on the Madeira River, a major tributary of the Amazon, floating hundreds of miles as state and federal authorities dispute who is responsible for stopping them.The flotilla of rafts equipped with pumps are moored together in lines that nearly stretch across the vast Madeira, and a Reuters witness spotted plumes of exhaust indicating they are vacuuming the riverbed for gold."We counted no less than 300 rafts.
China Cracks Down on Illegal Yangtze River Sand Dredging
China has launched a crackdown on illegal sand mining operations on the Yangtze river, which have made large parts of central China more vulnerable to drought.Excessive sand mining on the Yangtze, which provides water for a third of the Chinese population, is believed to be responsible for the abnormally low levels of water during the winter drought season in recent years.Sand mining in the river and its connecting lakes and tributaries has also affected shipping routes and made it harder for authorities to control summer floods.According to a notice issued by the water…
Indonesian Miners Demand Longer Transition for New Rule
Coal miners have called on the government to extend the transition period for implementing a new coal-export rule that creates longer procedures before shipment. In a change to previous arrangements, from Sept. 1 Indonesia, the world’s biggest exporter of thermal coal, will require miners to be registered exporters to allow them to ship the commodity overseas. To submit applications for the license, they must receive a recommendation from the Energy and Mineral Resources Ministry, which should issue a clear-and-clean status. Indonesian Coal Producers Association (APBI) chairman Bob Kamandanu welcomed the new regulation, but questioned the short transition period to adjust and comply with it, particularly because shipment procedures had become more complicated.
India's JSW Raises Iron Ore Imports
JSW Steel, led by billionaire Sajjan Jindal and India's third-largest maker of the alloy, will import 6 million metric tons of iron ore this fiscal year compared with no shipments a year earlier due to production cutbacks at home. JSW's return to the sea-borne iron ore market after a gap of more than a year could further support prices that seem to be recovering after sliding to 21-month lows in mid-June. India's Supreme Court in May ordered the temporary closure of some iron ore mines in top producing state Odisha pending renewal of their licences. This has cut output from the state that produced more than 70 million metric tons last fiscal year. A previous court clampdown on illegal mining in Karnataka and Goa states have also stifled supplies.
Drewry's Dry Bulk Insight
Capesize difficulties countered by smaller vessel gains. Drewry Maritime Research’s latest Dry Bulk Insight report published in Januray highlights the changing fortunes of the market. December saw a large drop in the Drewry Hire Index. The dip occurred mainly due to a massive decline in Capesize segment freight rates. A lack of cargo and an oversupply of vessels led to the Capesize index almost halving in December. This depleted Capesize index was incorporated into the Drewry Hire Index causing the drop, which was tempered by a rise in handymax and handysize rates. Grain trade supported the smaller vessel segments with rates remaining firm in the East Coast of South America. Handysize rates for transatlantic round voyages increased from $4,868pd to $4,900pd, marginally up.
