Steel Production News

09 Oct 2019

Baltic Index Rises on Uptick in Capesize Demand

© Zdenar Adamsen / Adobe Stock

The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk commodities, jumped on Wednesday, on stronger demand for capesize vessels driven by a seasonal uptick in Brazilian iron ore exports.* The Baltic index, which reflects rates for capesize, panamax and supramax vessels, rose 72 points, or 4%, to 1,873, its biggest daily percentage gain since Aug. 30.* The capesize index jumped 177 points, or 5.8%, to 3,208, recording its steepest percentage rise in over five weeks.* The average daily earnings for capesizes…

02 Oct 2019

Engie's Tractebel Unveils Hydrogen Platform

The platform model from Tractebel contains a complete plant for the industrial production of CO2-neutral “green” hydrogen from offshore wind energy. Image: Tractebel

Tractebel Engineering GmbH and Tractebel Overdick GmbH are developing a concept for an offshore platform which makes it possible to produce hydrogen from offshore wind energy at an industrial scale using electrolysis.The companies, both part of French energy group Engie SA, announced that the concept consists of an up to 400-MW plant for the production of renewable hydrogen via electrolysis at an industrial scale.This kind of plant exceeds the output of previous technologies many times over.

19 Sep 2019

BIMCO Pessimistic on Dry Bulk Market

Graphs: BIMCO

BIMCO expects the fundamental market balance in the dry bulk shipping to deteriorate in 2019 which will do nothing to improve freight rates as the 2020 sulfur cap nears.Earnings for Capesize vessels have continued their roller-coaster ride, reaching their highest level since the end of 2013, at USD 36,101 per day on 2 September 2019. Between 2 April, the low point of the year so far, and 2 September rates have risen 943%, into solid profit-making territory.The strong increase in Capesize and Panamax earnings reflects a change in the market dynamics since the beginning of the year.

28 Aug 2019

RMK: Targeting “Next Wave of Tanker Demand” in 2021-22

Launched on June 12, 2019, Cosima PG is being built for a European client, to be delivered in November 2019.
Photo: RMK Marine

RMK Marine Shipyard is located in the Tuzla/Istanbul, Turkey, since 1997 as part of the Koc Group of Companies (https://www.koc.com.tr/en-us) which is Turkey’s biggest conglomerate. It specializes in shipbuilding as well as super/mega yacht refit, conversion and new building projects. On the shipbuilding side, specialty, high-temperature product tankers, such as asphalt and bitumen, as well as chemical and oil products tankers have been a staple of RMK Marine. Since 1997, RMK…

19 Aug 2019

Baltic Index Snaps 7-day Win Streak as Capesize Drags

AdobeStock / © Igor Strukov

The Baltic Exchange's main sea freight index fell on Monday, breaking a seven-day winning streak as rates for capesize vessels eased.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, fell 21 points, or 1%, to 2,067 points.The capesize index fell 98 points, or 2.6%, to 3,728 points. Average daily earnings for capesizes, which typically transport 170,000 tonne-180,000 tonne cargoes such as iron ore and coal, fell $743 to $28,881.Dalian iron ore futures gave up early gains and ended lower on Monday…

13 Aug 2019

U.S.-Flag June Laker Cargo Up 2.3 PCT

File Image (Credit: Great Lakes Fleet)

U.S.-flag Great Lakes freighters (lakers) moved 9.9 million tons of cargo in June, an increase of 2.3 percent from a year ago. The June float was, however, a near mirror image of the month’s 5-year average.Iron ore cargos for steel production totaled 5.1 million tons, an increase of 10.5 percent from 2018, but a 7.6 percent decrease from June’s 5-year average. Coal loads totaled 1.3 million tons, a decrease of 5.2 percent from 2018 and 24.2 percent from the month’s 5-year average.Year-to-date U.S.-flag cargo movement stands at 32.3 million tons…

28 Jun 2019

U.S.-flag Cargo Movement on Great Lakes Up

Great Lakes Bulker. Photo Credit:  Mike Gibby Besko/ Lake Carriers’ Association

U.S.-flag Great Lakes freighters (lakers) moved 10.6 million tons of cargo in May, an increase of 11.9 percent from last year. According to Lake Carriers’ Association (LCA) represents 13 American companies that operate 46 lakers on the Great Lakes, the May float was ahead of the month’s 5-year average by 8.4 percent.Iron ore cargos for steel production totaled 5,590,145 tons, an increase of 677,194 tons from May of 2018.Coal shipments were little changed from a year ago. Loadings totalled 1,381,110, a decrease of 24,879 tons, roughly one cargo of a mid-sized self-unloader.

26 Jun 2019

Water Outflow on Seaway Now Above 10,400 CMS

Photo courtesy of Chamber of Marine Commerce

The Chamber of Marine Commerce supports the International Lake Ontario-St. Lawrence River Board’s decision Friday to continue flow rates from the Moses-Saunders dam at 10,400 cubic meters per second (CMS).Maintaining the 10,400 CMS outflow still results in a significant cost to the economy, with an estimated $2.3 million to $3 million in business revenues lost for every day it’s in place due to delays for all ship transits through the Seaway.The Chamber’s ship operators are following…

12 Jun 2019

Fleet Growth to Outstrip Demand: BIMCO

Graphs: BIMCO

Fleet growth expected to outstrip demand growth in 2019 and 2020, making the near future look unappealing, says BIMCO.In the first four months of 2019, yards delivered 10m DWT of newbuilt dry bulk shipping capacity. The demolition of 3.9m DWT limited the immediate negative impact, but even a fleet growth of 0.7% harms the market, as cargo demand is seasonally low.Capesize accounted for 87% of the demolished capacity pushed out of the market, as freight rates fell and the outlook turned bleaker.Because of this unexpectedly dramatic start to the year…

22 May 2019

Dry Bulk Fleet Utilization Falls 3.7% in Q1

Pic: Golden Ocean

Global dry bulk fleet utilization (calculated as total demand in tonne miles transported divided by total available fleet capacity) dropped by 3.7% in the first quarter of 2019, reflecting the trend observed in the rate environment, said Golden Ocean Group (GOGL),  Bermuda registered, Norway based dry bulk shipping company.According to Maritime Analytics, global fleet utilization was 82.1% in the first quarter of 2019, down from 85.8% in the fourth quarter of 2018 and 85.1% in the first quarter of 2018.According to the same source…

18 Apr 2019

Volume Rises at Port of Rotterdam

Pic: Port of Rotterdam

Port of Rotterdam posted a record overall freight tonnage in the first quarter of 2019, up 5.1% on the same period last year, thanks to strong growth in container traffic.In total, 123.9 million tonnes were handled compared with 117.8 million tonnes in the same period in 2018."The increase mainly concerned the throughput of containers (+7.3% in TEU, +5.9% in tonnes) and fuels. Mineral oil products, iron ore and scrap throughput fell," said a press release from the largest port in Europe…

17 Apr 2019

“It’s the steel production, stupid!”

Peter Sand, BIMCO

BIMCO's Peter Sand, in a new report, weighs in on the implications for the Dry Bulk sectors.Chinese imports of iron ore keep falling, while its crude steel production keeps growing. China’s increased use of scrap metal for its production of crude steel is fundamentally critical to the dry bulk shipping industry. Mostly Capesize ships are impacted by this, way beyond the temporary iron ore export disruptions in Brazil and Australia.Chinese steel production grew by a massive 12.6 million tonnes (+9.2%) in the first two months on 2019 as estimated by China Iron and Steel Association (CISA).

17 Jan 2019

EU Takes Aim at Turkish Steel Sector Buckling Under Trump Tariffs

The European Commission's move to extend its steel import restrictions threatens to force Turkish mills, already buckling under the weight of U.S. tariffs, to cut production further or in some cases close down, sources said.The Commission said on Wednesday it will extend and beef up its existing "safeguard" steel import caps until July 2021 to counter concerns that European Union markets are being flooded with steel no longer being exported to the United States.For Turkey's vast steel sector, the fourth largest contributor to the country's economy, the caps could prove particularly painful as the EU has given it additional "country-specific" quotas.Under the safeguards…

19 May 2018

China to Cut Steel Capacity by 2025

© zjk/Adobe Stock

China will shut down more outdated steel plants and bring total capacity to less than 1 billion tonnes by 2025, the president of the country's steel industry association said, adding that national demand for the metal is set to decline gradually. With more than three quarters of firms suffering losses as a result of a price-sapping capacity surplus, China vowed in early 2016 to shut 150-150 million tonnes of annual production in five years in a bid to raise profitability and utilisation rates in the sector. Its capacity then was estimated at 1.2 billion tonnes.

10 May 2018

Interview: Robert Kunkel, Alternative Marine Technologies

Bob Kunkel needs no introduction to Marine News readers. Kunkel, President of Alternative Marine Technologies, previously served as the Federal Chairman of the Short Sea Shipping Cooperative Program under the Maritime Administration and Department of Transportation from 2003 until 2008. A past Vice President of the Connecticut Maritime Association, he is a contributing writer for Maritime Logistics Professional magazine and of course, Marine News. A graduate of the Massachusetts Maritime Academy…

10 Oct 2018

AWIA/WRDA Overwhelmingly Passes in Senate

File Image: AdobeStock / © SunnyS

Bill now heads to White House for President Trump’s signature.Today, the Senate voted 99-1 in favor of America’s Water Infrastructure Act of 2018/Water Resources Development Act, otherwise known as WRDA 2018. The Bill passed in the U.S. House by unanimous voice vote (435-0) in August.“The passage of WRDA 2018 is a win for the Nation’s towboat operators, freight shippers, ports and labor and conservation groups that rely on an efficient inland waterways system,” said Mike Toohey, President and CEO of the Waterways Council, Inc. (WCI).

19 Jul 2018

US-flag Great Lakes Cargo Shipping Steadies

© Gerald Bernard / Adobe Stock

U.S.-flag Great Lakes freighters (lakers) moved 9.7 million tons of cargo in June, a near mirror image of a year ago but 3.5 percent below the month’s five-year average, the Lake Carriers’ Association reported.Iron ore cargos for steel production totaled 4.6 million tons, a decrease of 6.9 percent, while coal loads totaled 1.4 million tons, a decrease of 13.7 percent.Offsetting those decreases was a 21 percent surge in limestone cargos. Shipments of aggregate, fluxstone, chemical…

19 Jul 2018

EU Must Speed Up Approvals of Asian Shipbeaking Yards

Graph: MSI Foresight

The European Union should step up its assessment of Asian shipbreaking yards to allow the effective implementation of the Hong Kong Convention, said Maritime Strategies International (MSI).In its MSI Foresight, the independent research and consultancy firm noted that by December 31 2018, all vessels flying the flag of an EU member state (around 12% of the current global merchant fleet) will need to comply with the EU Ship Recycling Regulation (SRR); the rule that brought the Hong Kong Convention into EU law.From 2019 onwards…

14 Jan 2019

NASSCO Expands Ships Production Capacity

Kevin Graney, President of General Dynamics NASSCO, addresses a crowd of shipbuilders as the company commissioned a new panel line in the San Diego shipyard January 11, 2019. Photo: General Dynamics NASSCO

National Steel and Shipbuilding Company (NASSCO) held a ribbon-cutting ceremony on Friday to commission its new panel line, which expands steel production capabilities for the construction of commercial and government ships in San Diego.The American shipbuilding company with three shipyards located in San Diego, Norfolk, and Mayport said in a press release that the new panel line enables distortion-free welding of plates as thin as five millimeters to produce lighter, more energy efficient ships.The cutting-edge facility uses hybrid laser arc welding and numerically controlled robots to mill…

03 Sep 2018

Evergreen Group Celebrates 50th Anniversary

Evergreen Group’s 50th anniversary celebration on September 01 commenced with a performance by the choir of the Yihsing branch of Jiahsing Elementary School, presenting best wishes with their sublime singing.  The choir is a gold medal winner at the 31st Franz Schubert Choir Competition in Vienna. Photo: Evergreen

Evergreen Group celebrated its 50th Anniversary at the Chang Yung-Fa Foundation, home of the charity set-up by Evergreen Group Founder and Chairman Dr. Y.F. Chang, said a press release from the company.In addition to senior executives and employees of the Group’s businesses, the event was also attended by public officials, customers and business agents from both the shipping and airline industries as well as representatives of supply chain partners from more than fifty countries.The…

06 Sep 2018

Drewry: Capesize Charter Rates to Go Up

Drewry maintains a positive outlook on the dry bulk market and expects charter rates to improve from current levels, driven by moderate increases in vessel demand and low growth in vessel supply as a result of restrained new ordering and a thin orderbook, according to the latest edition of the Dry Bulk Forecaster, published by global shipping consultancy Drewry.The uncertainty surrounding the dry bulk market, driven by trade wars could, nonetheless, slow down the increase in charter rates.

21 Aug 2018

US-flag Great Lakes Cargo Movement Steady in July

© johnsroad7 / Adobe Stock

U.S.-flag Great Lakes freighters (lakers) moved 9.8 million tons of cargo in July, a virtual tie with a year ago, the Lake Carriers’ Association reported. The July float was, however, 6.4 percent below the month’s five-year average.Iron ore cargos for steel production totaled 5.2 million tons, an increase of 5 percent. The July ore float was also the highest monthly total for U.S.-flag lakers since December 2014.Coal loads totaled 1.3 million tons, a decrease of nearly 11 percent.

19 Dec 2018

U.S.-Flag Cargo Movement on Lakes in November Mirrors A Year Ago

A typical U.S.flag 'Laker' (CREDIT: Interlake steamship)

U.S.-flag Great Lakes freighters (lakers) moved 8.6 million tons of cargo in November, a virtual repeat of a year ago. The November float was also a near carbon copy of the month’s 5-year average.Iron ore cargos for steel production totaled 4.6 million tons, an increase of 9.6 percent compared to a year ago.Coal loads totaled 1.3 million tons, again little changed from a year ago. Shipments of aggregate, fluxstone, chemical stone and scrubber stone totaled 2.3 million tons, a decrease of 8 percent compared to a year ago.Year-to-date U.S.-flag cargo movement stands at 75.3 million tons…

Maritime Reporter Magazine Cover Nov 2019 - Workboat Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News