TRADE AND COMMODITIES

by solerm — last modified Jul 16, 2009 06:39 PM

Floating oil platform spend to hit US$11bn: MORE than US$11bn of investment could be spent on deepwater floating oil production platforms in the next five years as oil companies continue to develop new fields. Deepwater operations are well insulated from the recent drop in oil prices and this year’s slump in demand for oilfield services.
ABB profit warning as Asian demand slows: ABB Grain has slashed its profit forecast for the 2009 financial year by more than 10% as Asian demand for malt, fertilisers and chemicals slows.
BDI doomed to the doldrums: THE cost of transporting coal, iron ore and grain by sea is forecast to decline this quarter as coal shipments ease.
Port Hedland iron ore shipments fall in June: IRON ore volumes exported from Port Hedland in June was 2.7% lower than May, the port authority’s latest figures show.
Port still loading despite Timbercorp collapse: THE PORT of Albany is continuing to export Timbercorp’s woodchip product, despite the imminent winding up of the company. Timbercorp has been in voluntary administration since April.