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Iron Ore

Shipping Eyes Brazilian Ore Exports

Image: Vale S.A.

 Following the plunge in dry bulk freight market, shipping companies are banking on increased iron ore exports from Brazil to China and India to shore up freight rates, reports the Hindu Businessline.   Hauling ore from Brazil to China will cost almost double than that from Australia.  So in the current situation, ship-owners feel an increased flow of iron ore from Brazil, the world’s second largest producer, could boost the rates, as hauling the ore from there to China cost almost double than that from Australia.   Brazil accounts for almost 25% of the global market share of iron ore’s trade volume. Brazil is home to one of the largest mining companies, Vale S.A.    Brazil’s Ministry of Industry, Development and Foreign Trade had, last month, said iron ore exports from the country had increased by over 17 per cent in December to cross 37 million tonnes (mt), compared with the year-ago month.   Vale increased output is reflected in Brazilian iron ore exports for December. The volumes from Brazil surged to 37.39 million tons in December, which is a huge 44% month-over-month.    Shivakumar, Group CFO of Great Eastern Shipping hoped that Brazil is able to sell their iron ore more competitively than the Australians, because Brazilian iron ore to China is the best possible thing to happen to dry bulk shipping.


Australia's Iron Ore Miners Hang Tough as Prices Fall

By James Regan, Reuters If Australian miners are worried about the dramatic decline in iron ore prices, it doesn't show. At an annual gathering of many of the world's biggest and smallest iron ore producers here the mood is upbeat - as if the heftiest one-day fall in ore prices since the global financial crisis never happened. "Iron ore mining isn't tennis, it's a contact sport," said David Flanagan, chairman of Atlas Iron Ltd


China's Qingdao Port Probing Iron Ore Financing Fraud

China's Qingdao port said on Wednesday it is investigating whether iron ore warehouse receipts were fraudulently used multiple times to raise finance from different banks, Xinhua news agency reported. The probe is focussed on one trader with iron ore receipts, the Chinese news agency said. It follows a broad investigation earlier this year by Chinese authorities into the use of iron ore as collateral in financing deals.


Vale Profit Falls Amidst Record Output

Brazilian miner Vale SA posted a sharp decline in profit from the previous quarter as lower iron ore prices undermined record production of the steel-making ingredient. Vale, the world's largest producer of iron ore, reported second-quarter net income of $1.43 billion, down 43 percent on the previous quarter and below the average analyst estimate of $1.89 billion in a Reuters survey. "It was a very challenging environment where the price of our most important product has dropped by


Australia's Port Hedland Iron Ore Exports to China Rise

Port Hedland: Pilbara Ports Authority

 Iron ore shipments to China from Western Australia's Port Hedland, the world's biggest terminal for shipments of the steelmaking raw material, rose 3.3% from February to 31.2 million mt in March.    While the rise is partly attributable to fewer shipping days in February, it also underscores efforts by Australian miners to displace China’s domestic production of iron ore. It also indicates that demand remained strong despite weakness in the market.  


Essar Ports Acquires Vizag Port's Iron Ore Complex

Vishakhapatnam Port Trust’s Iron Ore Handling Complex on a Build-Operate-Transfer basis

  Essar Ports Ltd. (EPL) today announced the taking over of Vishakhapatnam Port Trust’s (VPT) Iron Ore Handling Complex on a Build-Operate-Transfer (BOT) basis, for a period of 30 years. Essar Vizag Terminals Ltd. (EVTL), a wholly owned subsidiary of EPL, will comprise three berths (two outer harbour berths and one inner harbour berth) with a combined capacity of 23 Million Tonnes per Annum (MTPA) which will be developed in two phases.


China's Demand Slows, BDI Index Unlikely to Jump

According to a London report issued Aug. 14, dry bulk freight rate index climbed by 2.5% on Friday at Baltic Mercantile and Shipping Exchange, a moderate rise for two consecutive days. Royal Bank of Scotland (RBS) indicated in its report that China's bulk commodity import will slow down, and that China's bulk material import is predicted to drop from record high and slacken afterwards, according to Financial Times, Aug. 17.


JFE’s Ship Unit Targets Orders for Five Vessels

JFE Holdings Inc.’s shipbuilding unit is reportedly aiming to win orders for as many as five iron ore carriers, according to a report on www.businessweek.com. Iron-ore carriers including Nippon Yusen K.K. and Mitsui O.S.K. Lines Ltd. are expanding dry-bulk fleets to tap demand for the steelmaking material. Exports of the ore from Australia, the world’s largest shipper, are forecast to rise at an average annual rate of 7 percent to 2015


Iron-Ore Ship Rates Rise as China Spends

Iron-Ore carrier daily rates rebound as China spends US$158-billion. Iron-ore ships are poised to earn more than operating costs for the first time this year as rates rally on speculation Chinese steel mills will accelerate imports because of a 1 trillion-yuan ($158 billion) building program, reports Bloomberg Business News. Capesizes, each carrying 160,000 metric tons of ore, will earn $12,500 a day in the fourth quarter


Bazil's Vale, China's CMES Sign VLOCs Agreement

MS Vale Brasil. Photo: Vale

 Brazilian mining giant Vale and the China Merchants Group (CMES) signed an expanded framework deal for strategic co-operation on iron ore shipments. Vale has agreed to sell four large iron-ore carriers to CMES.   The world's largest producer of iron ore said in a statement the details of the contract had not yet been finalized and will be released in the coming months.   "No price has yet been disclosed for the four vessels


New Productivity Record at Khalifa Port

Khalifa Port Container Terminal. Photo by Abu Dhabi Terminals

 Khalifa Port Container Terminal, KPCT, set a new productivity record by handling 2615 moves in just under 13 hours on the 9,365 TEU CMA CGM Thames which called into Khalifa Port on Tuesday 21st July.   This is the first time Abu Dhabi Terminals (ADT) manager and operator of Khalifa


Dry Bulk Shipping Outlook Improving

Image: Diana Shipping Inc

 The dry bulk market looks set for a solid show, although conditions remain more than challenging, analysts with Macquarie said in a note, reports WSJ.   As the amount of iron ore and other goods carried by these ships races ahead of new capacity


Rolls-Royce Takes Davies on Board

Alan Davies is currently Chief Executive of Rio Tintos Diamonds and Minerals division

  Rolls-Royce appointed Alan Davies as a Non-Executive Director. He will join the Board with effect from November 1, 2015 and will become a member of the Nominations and Governance Committee, and the Audit Committee.   Alan Davies is currently Chief Executive of Rio Tinto's Diamonds


Vale Sells Four 'ValeMax' Bulkers to China Merchants

A ValeMax very large ore carrier (file image: Vale)

Brazilian mining company Vale SA said on Thursday that it expects to receive $448 million from the sale of four dry-bulk iron ore ships to China's state-owned China Merchants Energy Shipping Co in September. The 400,000-deadweight-tonne ships


Baltic Dry Index Climbs to an All Year High

bimco.jpg

The dry bulk market has been devastating so far in 2015. However, June has somehow reversed it all in less than three weeks if judged by the Baltic Dry Index (BDI). June has delivered what May was unable to – keeping the momentum going


Boskalis Secures Dredging Work in Africa

Royal Boskalis Westminster N.V. has been awarded three dredging-related contracts on the African subcontinent with a combined value of approximately EUR 75 million.   In Angola, Boskalis has been awarded a contract by Angola LNG Ltd. for dredging activities related to maintaining the access


Mega Valemax Enteres China for First Time in Two Years

 Valemax “Yuan Zhuo Hai”. Pic: China Ocean Shipping Company (Cosco)

 Mega-ore carrier  Valemax  Yuan Zhuo Hai, which is owned by China Ore Shipping,  has arrived Dongjiakou Port in Qingdao for unloading iron ore. This is the first entry of such a bulk carrier tonnage in the sea port of China for the past two years.  


Shipping Gloomiest Since 2009

Image:  Norton Rose Fulbright

The shipping industry is the most pessimistic in six years about its prospects as a fleet surplus persists, according to a survey by law firm Norton Rose Fulbright, says a report in Reuters.   The growing vessel glut is battering sentiment in the shipping industry at a time when players


Impact of Financial Crisis on Greek Shipping

 Image: Reinventing Greece Media Project

 Though international analysts like Morgan Stanley said that the Greek crisis will not have a direct impact on shipping companies, Greek shipping companies listed on U.S. stock exchanges sank on Monday.   Greeks have said No to austerity terms imposed by international creditors


Dry Bulk Market Crisis: Opportunity or Threat?

File photo

The shipping industry is experiencing the biggest dry bulk market recession since the 1980s, as uncertain global economic outlook and increased imbalance between supply and demand have lead to historically low freight rates .It seems the downturn will continue until 2017 if a viable equilibrium is


Great Lakes Iron Ore Trade Dips in June

Photo: LCA

Shipments of iron ore on the Great Lakes and St. Lawrence Seaway totaled 6.2 million tons in June, a decrease of 6 percent compared to May, and nearly 5 percent below the level of a year ago, the Lakes Carriers' Association (LCA) announced.


Foreign Steel Cuts Lakers’ Ore Float in June

 With foreign steel now commanding nearly 32 percent of the U.S. market, it was inevitable that iron ore cargos hauled in U.S.-flag Great Lakes freighters (lakers) would take a hit, and that hit came in June, the Lake Carriers’ Association (LCA) reported. Cargos totaled 4


BHP to Spend $240 mln on Iron Ore Tug-Boat

Port Hedland. Photo: BHP Billiton

 BHP Billiton plans to construct a new eight pen tug harbour at Hunt Point in Port Hedland, as well as purchase six additional tugs, for $US240 million ($A326 million).   The investment will also include an upgrade of workshop facilities


BHP Will Beef Up Hedland Port, Acquire Tugs

BHP Billiton said on Tuesday it will spend $240 million upgrading its marine iron ore facilities in Western Australia. The funds will be used to purchase six tug boats and build a new tug harbor in the Port Hedland Port, with construction due to be completed in the September 2016 quarter.


BHP Billiton Injects $240m into Port Hedland

  BHP Billiton has approved $240 million (BHP Billiton share) to purchase six additional tugs and construct a new eight pen Tug Harbour at Hunt Point in the Port Hedland Port. The investment will also include the upgrade of workshop facilities






 
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