TRADE AND COMMODITIES

Russia’s Pacific ports cash in on China’s coal boom

CHINA’s surging demand for imported coal has created a boom in shorthaul dry bulk trade from ports on Russia’s Pacific coast. Russian coal exports to China reached 4.4m tonnes in the first six months of this year, growing from just a handful of shipments in 2008.

Rio wary of recovery despite record sales

THE WORLD’S second-largest iron ore producer posted record shipment levels during the second-quarter but remained uncertain about the underlying strength and durability of any global economic recovery.

Analysts doubt Fortescue’s Chinese ore deal

CHINA has touted its iron ore pricing deal with Australia’s third-largest miner, Fortescue Metals Group, as a “win-win” deal.