Capesizes have soared back to six figure territory to hit highs not seen for 14 months, on the back of strong China demand, growing port congestion and, worryingly for owners, a surging paper market.

China is in the process of restocking iron ore volumes ahead of the
annual contract negotiations with the main global miners. China’s coal
needs have also jumped on the back of an especially cold start to
winter.

Source: SeaTradeAsia-Online

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• Trans-Pacific Carriers Predict strong volume

     Carriers in the eastbound Pacific predicted the volume of containerized imports from Asia will likely increase 6 to 8 percent this year.

• China acts tough in front of iron ore talks

    China is at it again. This year also China has decided to take a hardline as far as iron ore price negotiations are concerned. Even before the Beijing starts its 2010 iron ore annual contract price negotiations in April with the big three global iron ore-mining giants, the country has

• China is looking for a new iron ore negotiation mechanism

    China’s steel industry signed a high profile price cut agreement with Australia’s Fortescue Metals Group Ltd (FMG), avoiding Rio Tinto and BHP Billiton. This shows China’s intention to break the traditional negotiation model, so as to weaken the influence of the three iron ore giants. It also shows the willingness of

• China is looking for a new iron ore negotiation mechanism

    On August 17, China’s steel industry signed a high profile price cut agreement with Australia’s Fortescue Metals Group Ltd (FMG), avoiding Rio Tinto and BHP Billiton. This shows China’s intention to break the traditional negotiation model, so as to weaken the influence of the three iron ore giants. It also shows

• China MiIT supported CISA and CCCMC in negotiations with foreign companies

    Zhu Hongren, spokesman for China’s Ministry for Industry and Information Technology (MIIT) has made a statement against the background of the iron ore contract price talks for 2010.

• Clerical workers at SoCal port vote on strike

    About 900 clerical workers at the ports of Los Angeles and Long Beach have voted to authorize a strike a day before their contract with 14 shipping companies expire. About 400 union members voted unanimously Tuesday night to strike when the current contract expires on Wednesday Weeks of negotiations with

• Iron ore output jumps when calls can be affected in China

    Steel production in China has gone up in 2009 and this has complicated the country’s iron ore price talks with international companies. A report said the country’s steel production has climbed up by 14 per cent to a record last year. Steel output rose to 568 million tonnes in 2009

• Brazil Miner Vale: No Talks Yet China Iron Ore Report

    Roger Agnelli, president of Brazilian mining colossus Vale SA, said negotiations with China over 2010 iron ore term prices had not yet begun, the Valor newspaper reported Tuesday.

• High iron ore price will help position the miners

    The position of global mining groups in their annual iron ore negotiations with steelmakers has been strengthened after spot prices reached their highest level of the year on Thursday. Strong demand in China and supply disruptions in India are behind the move higher. The price surge to $106.9 a tonne

• BHP and 2010 iron ore negotiations

    BHP should be a good stock buy in spite of the strength of the mining sector and stock gains it has made last year.