By Marcelo Teixeira and Marcy Nicholson SAO PAULO/NEW YORK, Aug 23 (Reuters) - Brazilian coffee exporters are struggling to find shipping capacity to transport a bumper crop from the world's top producer, which could result in supply delays to roasters worldwide. Abundant overall supplies in consuming countries, however, will limit any near-term impact from shipping delays … [Read more...]
From Trading Titan to Penny Stock: Noble Group Faces Crunch as Creditors, Investors Circle
By Anshuman Daga and Henning Gloystein SINGAPORE, May 15 (Reuters) - Just seven years ago, Noble Group was a $11 billion-plus Asian commodity powerhouse, trading everything from soybeans to oil. As it readies its latest earnings report, it's worth barely $80 million, rooted among Singapore's penny stocks. Due later on Tuesday, Noble's first-quarter results will shed light on … [Read more...]
Commodities in Crisis as Asian Shares Tumble and Shipper Files for Bankruptcy
By Henning Gloystein and Denny Thomas SINGAPORE/HONG KONG, Sept 29 (Reuters) - A Japanese shipper filed for bankruptcy on Tuesday and global trading firm Louis Dreyfus posted lower profits, the latest victims of tumbling energy and raw material prices. The London-listed shares of mining and trading giant Glencore rebounded by around 10 percent, clawing back some … [Read more...]
Baltic Exchange Futures Platform Considering Move Into Commodities
By Jonathan Saul LONDON, June 29 (Reuters) - London's Baltic Exchange is studying a potential foray into commodities and is open to proposals on tie-ups as other exchanges attempt to boost volumes, its chief executive said. Baltex, the Baltic's digital shipping platform, was launched in 2011 as the first central electronic marketplace for freight forward agreements … [Read more...]
Not Even Blowtorches Can Ignite the Worst-Ever Dry Bulk Shipping Market
By Bill Lehane (Bloomberg) -- How bad is the market for shipping commodities across the world’s oceans? Consider that more than 100 vessels will probably be scrapped this year -- a record -- and daily earnings for the industry will still tumble. Having predicted as recently as February that shipping rates this year would jump, forecasters are turning increasingly bearish as … [Read more...]