TRADE AND COMMODITIES

Vale charter hiatus sends chill into capesize market

MAJOR capesize charterer Vale has confirmed it is exporting all iron ore to China and Europe on its own vessels and does not need to hire extra tonnage in the short term.

Growth in oil production to spark rates rebound

INCREASED oil production is expected to create a rebound in the tanker market within the next month that could push owners’ earnings into more profitable territory.

Port machinery maker looks offshore for profit

CHINA’S largest port machinery manufacturer Shanghai Zhenhua Port Machinery (ZPMC) is planning to flex its muscles in the thriving offshore market to stave off increased competition in its traditional port equipment business.