UPDATE 4-Alliance of top three shipping lines could start in mid-2014 - Maersk

 

Fri Mar 21, 2014 1:17pm EDT

* "P3" alliance between Maersk, MSC and CMA CGM

* Tie-up wins approval from U.S. regulators

* Critics fear it could dominate key shipping routes

* Alliance needs green light from Europe, China regulators (Adds comments, background)

By Ole Mikkelsen

COPENHAGEN, March 21 (Reuters) - An alliance of the world's top three container shipping firms which could control more than a third of the market is likely to start operating in mid-2014, No.1 player Maersk Line said after the tie-up was approved by U.S. regulators.

The industry has been battling overcapacity since the financial crisis because new vessels ordered before the downturn have flooded the market. This has driven rates on the main route between Asia and

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Dry bulk market enters recovery mode, on increased Capesize demand

 

Friday, 14 March 2014 | 00:00

The dry bulk market has entered and sustained higher ground as of this week, on the back on increased Capesize demand. Although the situation in the grain market, as a result of the crisis in Ukraine is a major concern, potentially altering trade routes and patterns, the fall in iron ore prices could lead to yet another wave of restocking among Chinese steelmakers, which can seize the opportunity to attain the raw material at significantly lower prices. Yesterday, the Baltic Dry Index (BDI) increased by 15 points, reaching 1,468 points, although during the week it had briefly surpassed the 1,500 point mark. The "charge" was led by the Capesize segment, which was higher by 54 points yesterday, with the

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EU wheat hits 10-month high in broad grain rally

March 09, 2014

European wheat futures climbed to a 10-month high on Friday in a broad rally in grain markets stoked by export demand, weather risks and worries over tensions between Ukraine and Russia. May milling wheat, the most traded contract on Paris-based Euronext, rose as much as 3.2 percent to 212.75 euros a tonne, a level last seen on the contract in early May last year.
It later pared gains in line with the US market to unofficially close up 3.75 euros or 1.8 percent at 210.00 euros. Paris wheat was fired up by an earlier six-month high for US corn and a contract high for US soybeans, fuelled by brisk US exports. Wheat markets

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