Links to previous press releases are below. We welcome bona fide press enquiries, please email for further information
Canadian Iron Ore Exports in January
Canadian iron ore exports (excl. shipments to the US) rose by 0.6 Mt year-on-year to 3.1 Mt in January as cargoes to Japan (+0.3 to 0.6 Mt) and South Korea (+0.4 to 0.5 Mt) increased, according to the Tex Report. Exports to Europe were almost unchanged from the year-ago level at 1.5 Mt.
US Steel Imports Rise in February
Meanwhile, US steel imports rose by 0.4 Mt year-on-year in February to 2.4 Mt as higher shipments from Russia and Brazil helped counter declines elsewhere, according to US Census Bureau data. Imports have now seen annual growth of 0.5 Mt in the first two months of the year to 5.0 Mt.
South Korea’s overall crude imports declined by 168K b/d y-o-y in February to 3.17M b/d, Energy Intelligence reports, citing data from Korea National Oil Corporation. Declines came from a range of suppliers, including Iraq (-276K b/d to 281K b/d) and Qatar (-105K b/d to 209K b/d). However, imports from some suppliers surged, with Iran (+195K b/d to 478K b/d) and Russia (+132K b/d to 156K b/d), showing the largest growth. Smaller rises also came from Libya (+46K b/d to 55K b/d) and Mexico (+34K b/d to 42K b/d), while imports from the largest supplier, Saudi Arabia, edged upwards (+7K b/d to 951K ...Read More
Chinese bauxite imports rose by 1.0 Mt year-on-year to 4.3 Mt in February, as shipments from Australia (+0.8 Mt to 1.9 Mt) and Guinea (+1.0 Mt to 1.3 Mt) increased, Chinese customs data show. This contrasted with sharp falls in imports from Malaysia (-0.5 Mt to 0.5 Mt) and India (-0.3 Mt to 0.2 Mt).
Meanwhile, China’s imports of nickel ore from the Philippines dropped to the lowest level in a year at 0.7 Mt in February. However, a very weak February 2016 total meant Chinese imports of nickel ore from all sources were still up by 0.5 Mt on the year-ago level at 1.1 ...Read More
Chinese Daily Steel Output
Daily crude steel output at China Iron and Steel Association (CISA) member mills fell slightly from late February to 1.69 Mt in the first ten days of March, U-metal reports. However, production remained above the year ago level, of 1.64 Mt/day.
Libya’s oil output has rebounded to around 700K b/d as fighting subsides, after clashes along the country’s Eastern coast (which forced a halt to shipments at the country’s two largest oil export terminals) had pushed output down towards the 600K b/d mark, Bloomberg reports. The country is now aiming to reach output of 800K b/d by end-April and 1.1M b/d by ...Read More
China’s crude oil imports from all major suppliers rose m-o-m in February, as total imports increased by 273K b/d from January, China Customs data shows. The largest m-o-m growth came from the Caribbean and Latin America, with volumes rising by 142K b/d to 1.11M b/d. Imports from the Middle East rose by 89K b/d from the prior month to 3.99M b/d, while China’s intake of West African crude edged upwards by 11K b/d m-o-m to 1.39M b/d. Supplies from Russia also rose, increasing by 37K b/d to 1.12M b/d. Outside of the largest suppliers, imports from i) Europe climbed by 133K b/d from January to 222K b/d, ii) the Mediterranean increased by 51K b/d m-o-m to an 18-month high of 126K b/d, iii) Asia dropped by 125K b/d m-o-m to a 13-month low of 212K b/d, while iv) imports from the US dropped by 61K b/d m-o-m to ...Read More
Global crude steel production rose by 4.1% year-on-year in February to 126.6 Mt, although down from expansion of 7.5% in January, it represented the tenth consecutive month output has increased on an annual basis, according to the World Steel Association. World steel production has now seen growth of 5.8% year-on-year, to 264.4 Mt, in the first two months of the year.
Production increases in February were primarily driven by strong growth in major Asian producers China (+4.6% to 61.2 Mt), India (+8.9% to 8.1 Mt) and South Korea (+8.3% to 5.5 Mt). By contrast, production fell in the EU-28 (-0.6% to 13.3 Mt), Russia (-0.3% to 5.6 Mt) and the US (-1.0% to 6.4 Mt). Japanese steel output was stable in February at 8.3 ...Read More
New portal provides shipping professionals with 24/7 online access to data, research, information and analysis
London: Friday December 9th, 2016: Simpson Spence Young, the world’s largest independent shipbroker, has today launched a subscription based information portal which provides 24x7 online analysis of the fast changing shipping and commodity markets.
The new service, called ‘Premier Club’, has three different annual subscription levels based on the depth of information required. Gold membership is $5,000, Silver $2,500 and Bronze $1,000. Premier Club is run by Simpson Spence Young’s respected 12-person consultancy and research department headed by John Kearsey.
Buying an annual subscription gives members immediate online access to reports, presentations and key data on the dry bulk, tanker, chemical and gas carrier sectors. Gold members can additionally correspond directly with Simpson Spence Young’s analysts in Europe and Asia via an ‘Ask the Analyst’ facility.
Commenting on the launch Simpson Spence Young Vice Chairman Mark Richardson said: "We have invested in this online portal so as to provide our customers and shipping professionals with the very best information and analysis at their fingertips. Premier Club membership will improve information flow and ultimately enhance decision making.”
To subscribe to Premier Club please visit: Read More
ICS Canada Conference
Simpson Spence Young's Head of Research, John Kearsey, was one of the speakers at the Annual Dry Bulk & Commodities Conference in Vancouver, which was organised by the Institute of Chartered Shipbrokers on 18 November.
November's edition of the SSY Monthly Shipping Review includes a feature on the new IMO rules for bunker fuels, which could have major implications for charter and Sale & Purchase markets, as well as fleet developments. For details on how to subscribe to the report, please contact Read More
Organised by the Korean Register, this annual conference in Busan on 20 October included a keynote address on the dry bulk shipping markets from John Kearsey, Head of Research at Simpson Spence Young. In his presentation, Mr Kearsey highlighted this year's strength in dry bulk trade and raw material prices, but cautioned that further demolition is required to boost the freight market's recovery ...Read More