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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.


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.


Great Lakes Freighters Getting Underway Again

The Lake Carriers’ Association (LCA) announced that the 2016 shipping season on the Great Lakes began on March 2 when the tug/barge unit Dorothy Ann/Pathfinder loaded 4,600 tons of iron ore at Cleveland Bulk Terminal for delivery to ArcelorMittal Cleveland at the end of the navigable portion of the Cuyahoga River. That much iron ore will keep the mill in operation for about one day. The vessel could have delivered another 4,100 tons


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


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


Capesize ‘Uptick’ Not Strong Enough for an Upsurge

A rise in iron ore trade, higher steel prices and increased scrapping have all contributed to recent improvements but the outlook is fragile April 19, 2016. The latest Dry Bulk Freight Forecaster from Maritime Strategies International* analyses the recent uptick in the Capesize market and considers the positive trends and mitigating factors. MSI finds the indicators are relatively positive in the short-term for iron ore trade


Baltic Index Falls on Weaker Demand

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Tuesday as demand for larger vessel segments declined.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down six points


Baltic Index Down on Lower Demand for Larger Vessels

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Wednesday hurt by sluggish demand for large vessel sizes.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Lower Large Dry Bulk Rates drag Baltic Index

File Image: A FedNav bulk vessel in the St. Lawrence Seaway (FedNav)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Thursday dragged down by lower demand for larger vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Higher Capesize Demand Pushes up Baltic Index

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday buoyed by higher demand for capesize vessels.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up five points


US-flag Lakers Cargo Movements Up in April

U.S.-flag Great Lakes freighters (lakers) moved 7.3 million tons of cargo in April, an increase of 9.7 percent compared to a year ago and 7 percent above the month’s five-year average, according to the Lake Carriers’ Association (LCA).  


China Steel, Iron Ore Slip Deeper into Bear Territory

Chinese steel and iron ore futures fell deeper into bear market territory on Thursday, as the country's exchanges unveiled more measures aimed at dampening the type of speculative trading behind a powerful rally last month.   The aggressive steps to limit speculative buying have helped fuel


Baltic Index Flat, Rates for Bigger Vessels Rise

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, remained unchanged on Thursday, even as rates for capesize and panamax vessels rose. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Baltic Index Rises as Larger Vessels Lend Support

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday, supported by higher rates for capesize and panamax vessels.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Tracking Chinese Seaborne Trade

Graph: Clarksons Research

 One of the major drivers behind the challenges currently facing many of the shipping markets has been slower demand growth.    World seaborne trade grew by less than 2% in 2015, the slowest pace since 2009, with trends in China pivotal


Baltic Index Rises on Stronger Capesize Rates

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday on stronger rates for capesize vessels.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 13 points, or 2


Capesize Demand Pushes Baltic Index Up

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Tuesday helped by an increase in demand for capesize vessels.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Asia Dry Bulk-Capesize Rates May Dip

Rates from Western Australia to China fall from six-month high. Freight rates for large capesize dry cargo ships on key Asian routes could slide next week as charterers rein in their activity following a flurry of fixtures which pushed rates from Western Australia to China to a six-month high


Baltic Index Falls on Sluggish Capesize Demand

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Thursday hurt by an decline capesize vessel demand.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down eight points


Baltic Index Falls on Weaker Demand for Larger Vessels

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Friday on weaker demand for larger vessel segments.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down nine points


Baltic Index Declines on Weaker Demand for Larger Vessels

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Monday on sluggish demand for panamax vessels, partially offset by a rise in demand for the smaller vessel sizes.   The overall index, which factors in rates for capesize, panamax






 
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