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Tag Archive for ‘Iron’

Iron-Ore Rebound Boosts STX With Record Chinese Imports: Freight

China, which imports more iron ore than the rest of the world combined, will buy a record amount this quarter, easing concern about the engine of global economic growth and extending a two-month rally in shipping rates. Capesizes, carrying more ore than any other vessel class, will earn $12,000 a day in the first quarter, says Arctic Securities ASA, a bank in Oslo whose recommendations on shipping stocks returned 17 percent in a year. Investors may profit from that because freight swaps for the period are trading at $8,500. Fourth-quarter shipments will rise 5.5 percent from a year earlier to…

France keen on energy cooperation with Vietnam

France is listed as one of Vietnam’s leading partners among 27 European Union (EU) nations in terms of trade exchange, investment and ODA funding. France is keen to boost energy cooperation with Vietnam and French businesses have been operating effectively in Vietnam, said French ambassador to Vietnam Jean-Noel Poirier at a recent meeting with Minister […]

Vietnamese steel industry faces pressure to restructure

Maybank Kim Eng Securities Analyst’s Picks Recent economic stagnation has had a strong impact on domestic steel industry, with high competition from Chinese imports posing further challenges to the sector. The consumption of construction steel decreased 10 per cent year-on-year in the first eight months of the year to a total of 2.9 million tonnes, the largest decline in the past several years, according to the Viet Nam Steel Association, which blamed the downturn on the frozen real estate market. Average monthly consumption reached just 360,000 tonnes, while it needed to be 420,000 tonnes for…

Vietnam takes actions to rescue the slowly sinking fleet

VietNamNet Bridge – It’s not the right time to find out who has to take responsibility for the unreasonable investment in the Vietnamese fleet, which has led to the disastrous consequences. It’s now the right time to find the way to rescue the huge assets which have been lost day by day, and save the crew members who have been trapped in both Vietnam and foreign countries. Experts say like any other industries, shipping business would see ups and downs. In 2006-2007, when the transportation demand increased sharply, ship owners and crew members lived well thanks to the sky high freights…

Vietnam Steel Production Down 10 Pct In 9 Months

Normally, the fourth quarter would see steel price picking up on expanding demand during construction season. Despite economic depression, steel inventories and excessive imports, however, keep soaring. Steel production over the recent nine months reportedly fell 10pct year-on-year, according to the Vietnam Steel Association (VSA). Inventories could reach 330,000 tonnes, beating VSA’s estimate by 10 […]

Vietnam’s 500m iron dragon bridge to make Guinness record

With the weight of up to 1,000 tons, a dragon-shaped arch bridge crossing the Han River in Da Nang City will be registered for recognition as the World Guinness record and the “largest steel dragon.” The perspective of the Dragon Bridge….

Worshipping the Four Immortals – Vietnam’s unique belief

As well as worshiping their ancestors, famous craftsmen and heroes who fought off foreign invaders, they worship the Four Immortals, who include Tan Vien (the God of the Mountain), Saint Giong, Chu Dong Tu and the Mother Goddess Lieu Hanh, all of whom had many unique features. Tan Vien embodies the aspiration of triumph over natural disasters, especially floods; Saint Giong represents the will to fight off foreign invaders; Chu Dong Tu symbolizes love and Mother Goddess Lieu Hanh signifies a rich spiritual life.

Vietnam’s export turnover for processing industrial products fetches nearly $60b

As reported by Ministry of Industry and Trade (MoIT), the group of processing industrial products continued to play an import role in the export growth, especially key export items of FDI enterprises such as telephones and components, computers, electronics products, cameras, video cameras with stable and high growth in the first ten months of 2012. Particularly, the ministry said the export turnover of processing industrial products in October reached $6.6 billion, rising 6.9 percent from September and surging 19.8 percent over the same period last year. Totally, in Jan-Oct, the figure was estimated at $59.8 billion, accounting for 64 percent of the country’s…

Vietnamese firms reach out to Thai counterparts

HCM CITY (VNS) — Vietnamese enterprises are seeking new ways to accelerate trade and investment relationships with Thai firms, Nguyen The Hung, deputy head of the Viet Nam Chamber of Commerce and Industry’s branch in HCM City, has said. Making the comments during a business conference in HCM City yesterday, Hung said the two business communities had been offering the most favourable conditions to meet and explore co-operation opportunities, especially in the sectors of trade and investment. Isares Rattanadilok Na Phuket, deputy secretary-general of the Federation of Thai Industries (FTI), urged…

Vietnam’s Footwear Exports Gaining Momentum

Despite the impact of world economic slowdown, the footwear sector expects to achieve an average growth of more than 10 percent this year. Judging by the latest statistics from the Vietnam Customs, the footwear sector is likely to earn US$7.3 billion from total exports in 2012, up 12 percent compared to last year’s figure. By far, it has exported US$5.45 billion worth of different products, up US$600 million from a year earlier, showing its growth of 12.3 percent. In the first two quarters, footwear exports rose 16.4 percent to more than US$3.5 billion against the same period last year. This was owing to coordinated…