High bulk rates a concern for Noble

Australia’s deputy prime minister Wayne Swan has cleared the way for China’s Yanzhou Coal to merge with Gloucester Coal.

Arch Coal Sales’ London team has been confirmed as Alexander Newman, vice president of international thermal coal sales, Europe, and Wyn Davis, vice president of international metallurgical coal sales, Europe.

Australian miner Gloucester Coal Ltd has entered into an agreement with Noble, Gloucester’s largest shareholder, to acquire, subject to shareholder approval, Noble’s 100% interest in Donaldson Coal for an enterprise value of Au$585M, including debt.

Hong Kong-based commodities trader Noble Group has announced its plans to build a grain and sugar terminal at the Port of Santos, Brazil, the largest port in Latin America.

Hutchison Whampoa Ltd (HWL) of Hong Kong, parent of Hutchison Port Holdings (HPH), has agreed to take a 50 per cent stake in an iron ore terminal at China’s Dalian port.

Asia’s voracious appetite for steel, coal and other raw materials is likely to drive increased profitability in the global freight market for the next two years, according to local commodities broker and ship manager Noble Group.