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BHP, the biggest listed miner, aims to decide early next year who has won a tender for LNG-fueled transport to ship up to 27 million tonnes, or about 10%, of its iron ore to cut emissions by around a quarter, a senior executive said.
Chinese steelmaker profits plunged in the third quarter, hit by soaring costs of iron ore due to falling global supplies of the main ingredient used in steelmaking.
Life is set to get even more difficult for major coal exporters with Russia planning to increase shipments of the fuel and the cost advantages appearing increasingly stacked in its favour.
Global thermal coal markets have largely “bottomed out” following a steep drop in the first half of 2019, although supply contraction will likely need to continue over the rest of the year and into 2020 to achieve global rebalancing...