Can Chinese Steel Support Freight Markets?
Is China’s steel exports enough to support the freight market? No, it’s not enough, you will need lower Chinese iron ore production too in order to keep growing imports of iron ore into China that will support the dry bulk freight market, says international shipping association BIMCO. World Crude steel production for the first seven months of 2015 was 945.8 million tons, down 2.1 percent on same period last year, according to World Steel Association. As China accounts for 50 percent of the world’s crude steel production, it’s fair to highlight the specific development in China as well as in the rest of the world separately. In dry bulk shipping, all eyes are on China as 960 million tons (MT) out of a total 1,425 MT of seaborne iron ore exports is expected to be landed there in 2015.
Parana River Push Boats Named at UZMAR Turkey Shipyard
The first two in a series of 8 in total Robert Allan design SDP 4600 Class push boats have been named at a ceremony in the UZMAR, Turkey shipyard. The shipbuilders say that these are the world’s most powerful diesel electric triple Z-drive shallow draft push boats ever built, able to transport a 16 barge flotilla of 48.000 dwt capacity over a 2500 km range. These push boats were ordered by Hidrovias do Brasil S.A. from the shipyard in 2013, and the first two of the series named respectively HB HYDRA ASUNCION-PY and HB AQUIARIUS ASUNCION-PY have now been delivered after successful sea trials.
