China to scrap iron-ore import licenses after battles with miners

China planned to scrap a decade-old iron-ore import licensing system this year.

China planned to scrap a decade-old iron-ore import licensing system this year, an industry source with direct knowledge of the matter said, opening-up an import market that takes two-thirds of the world's international iron-ore trade.

Friday, 14 June, 2013, 3:49am

BHP to scale back capital spending by a fifth

Global mining giant BHP Billiton has outlined plans to slash capital spending by almost a fifth, with new chief executive Andrew Mackenzie warning the brakes could be applied even further.

15 May 2013 - 11:42am

Vale profit rises on back of cost-cutting

Vale, the world's largest iron ore miner, reported profit that beat analysts' estimates for the first time in two years as cost reductions and higher copper sales offset lower prices for the steel ingredient.

26 Apr 2013 - 4:08am

Iron ore at 2-week low as China demand slips, swaps down

Iron ore from Australia is unloaded at Tianjin Port, one of China's biggest ports for importing the commodity, in Tianjin municipality. Photo: Reuters

Iron ore swaps dropped on Tuesday after spot prices hit two-week lows with demand from top buyer China losing steam after weeks of restocking.

20 Nov 2012 - 2:32pm

Rating agency S&P says no respite for iron ore miners

Rating agency Standard & Poor's does not expect any relief for iron ore prices, possibly bringing pressure to bear on smaller producers. Photo: AFP

Global credit agency Standard & Poor’s said it saw little improvement in iron ore prices in the near-term and warned that smaller single-commodity miners could see their ratings slip.

2 Oct 2012 - 2:14pm

Vale still on the hunt for ore fleet buyer

Vale, the Brazilian commodities giant, is continuing to negotiate with mainland and foreign shipowners over the sale of its fleet of 19 massive 400,000 dwt (deadweight tonne) Valemax very large iron ore carriers, a senior executive said yesterday.

22 Jun 2012 - 12:00am

Yards in line for huge ship orders

Mainland shipyards could see a raft of new orders for the massive vessels known as very large ore carriers (VLOCs) once domestic authorities resolve regulatory and other issues, a senior shipping analyst has said.

15 May 2012 - 12:00am

Business Digest

YGM buys struggling Aquascutum for HK$188m

YGM Trading will buy out British trenchcoat maker Aquascutum for ?15 million (HK$188 million). The century-old brand, which dressed Winston Churchill and Queen Elizabeth, last month shut its Northamptonshire factory and laid off more than 100 staff. YGM shares resume trading today. Charlotte So

5 May 2015 - 11:31am

Jiangsu assistance buoys China Rongsheng profits

Shares in China Rongsheng Heavy Industries, the mainland's largest privately controlled shipbuilder, fell 4.45 per cent yesterday to end the day's trading at HK$2.36 before the company announced its annual results after the market closed.

Chief financial officer Sean Wang Shaojian said net profit was 1.72 billion yuan (HK$2.1 billion) last year, largely unchanged from 2010.

21 Mar 2012 - 12:00am

Vale expects market for iron ore to hold steady

Vale, the world's largest producer of iron ore, expects prices of the mineral to remain largely stable this year, even after they dropped for seven days straight in their longest losing streak in more than three months.

17 Feb 2012 - 12:00am

Vale enlists ore transfer vessel to get round ban

Brazilian mining group Vale has expanded the flexibility of its iron ore shipping operations, especially to mainland ports, after taking delivery of a ship that is capable of loading and unloading other ships at sea.

27 Jan 2012 - 12:00am

China Rongsheng targets 6-month orders of US$1b

China Rongsheng Heavy Industries will focus on winning more new ship orders from mainland shipowners in the second half of this year to offset a possible drop in orders from the West.

25 Aug 2011 - 12:00am

Chinese demand drives sales for Vale

Brazilian miner Vale, the world's biggest iron-ore producer, announced record sales and a 74.1 per cent increase in net earnings in the second quarter of this year, thanks to strong demand from China.

30 Jul 2011 - 12:00am

Rongsheng boasts 'good' orders amid downturn

China Rongsheng Heavy Industries, the mainland's biggest privately owned shipbuilder, is aiming to win US$3 billion worth of ship construction orders this year, even with an influx of new tonnage set to enter the global merchant fleet in the next two years.

11 Jul 2011 - 12:00am

Vale set for Hong Kong secondary listing

Brazil's Vale, one of the world's biggest iron ore producers, yesterday received approval from the stock exchange to issue Hong Kong's first depositary receipt (HDR), according to a source. Vale's shares already trade in Sao Paulo, New York, Madrid and on Euronext.

26 Nov 2010 - 12:00am