Iron ore shipments on the Great Lakes totaled 6.5 million net tons in September, an increase of 8.2 percent compared to a year ago. The trade also outperformed the month’s 5-year average by nearly 9 percent. Despite the increases, the iron ore trade continued to struggle with the inefficiencies inherent with lack of adequate dredging. The largest iron ore cargo in September – 66,761 net tons – still represented only 92 percent of the record cargo carried in 1997, a period when water levels allowed for near full loads. For the year, the iron ore trade stands at 45.6 million net tons, an increase of 9.8 percent compared to a year ago. Shipments also are ahead of the 5-year average for the first three quarters by nearly the same margin. (www.lcaships.com)
A relatively mild December on the Great Lakes allowed iron ore shipments to increase dramatically compared to a year ago when an early arriving winter blanketed the system with thick ice, the Lake Carriers’ Association (LCA) reported. Shipments totaled 6.3 million tons, an increase of 23.6 percent compared to a year ago, LCA said, noting that the biggest increase came from U.S. ports on Lake Superior. Meanwhile, loadings out of Duluth, Minnesota, Superior, Wisconsin
Iron ore shipments on the Great Lakes totaled 6,551,329 tons in August, a decrease of 7 percent from July, but an increase of 9 percent compared to a year ago. August loadings also were up 24.6 percent compared to the month’s 5-year average. Shipments from U.S. ports totaled 5.8 million tons, an increase of 14.2 percent compared to a year ago. However, loadings at Canadian ports dipped more than 20 percent. Through August the iron ore trade stands at 36
Iron ore shipments on the Great Lakes totaled 5.8 million tons in November, an increase of 2 percent over October, and an increase of 8 percent compared to a year ago. November loadings were also up about 8 percent compared to the month’s 5-year average. Shipments from U.S. ports totaled 5.2 million tons, an increase of 9 percent compared to a year ago. Loadings at Canadian ports were virtually unchanged from a year ago. Through November the iron ore trade stands at 54
Shipments of iron ore on the Great Lakes totaled 1.9 million tons in March, a decrease of 11.3% from a year ago. Loadings were 9.3% ahead of the month’s five-year average, however. Shipments from U.S. ports totaled 1.8 million tons, a decrease of 9.7% compared to a year ago. The March total included 116,000 tons shipped to Quebec City for loading into oceangoing vessels and delivery overseas. Shipments from Canadian ports totaled 113,000 tons
Shipments of iron ore on the Great Lakes totaled 58.3 million tons in 2013, a decrease of 5.3 percent from 2012. While the trade had been slightly behind 2012’s pace through November, the gap grew significantly when an early and harsh start to winter limited shipments to 5.1 million tons in December, a decrease of 20 percent compared to a year ago. There were weather-related delays at loadings docks and vessels were either slowed by or beset in heavy ice.
BHP Billiton, Royal Bank of Scotland, Westpac Banking Corporation, Cargill and Minerva Marine recently completed the first trade financed iron ore trade using ESS’s CargoDocs electronic bill of lading and eUCP Presentation solutions. CargoDocs was used on a shipment from Australia to China. In this trade the electronic bill of lading was drafted by BHP Billiton in Shanghai (eliminating the need for separate document instructions)
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.
Trading firm Trafigura and Abu Dhabi sovereign wealth fund Mubadala said on Thursday their Brazilian port for exporting iron ore will start this year, in response to a steelmaker with a contract to use the port that said the opening could be pushed back to 2015. Porto Sudeste "is on track to start operation in the beginning of the last quarter of 2014," Eugenio Mamede, chief operating officer for the port, said in a written response to Reuters.
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. Yuan Zhuo Hai is one of four 400,000dwt VLOCs acquired by China Ore Shipping from Brazilian ore giant Vale. The 400,000 dwt Valemax is expected to be part-laden
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 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.
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
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
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
U.S.-flag Great Lakes freighters (lakers) moved 6.7 million tons of dry-bulk cargo on the Great Lakes in April, a decrease of nearly 6 percent when compared to the month’s 5-year average. Another brutal winter again spawned heavy ice formations Lakeswide that slowed the vessels that
Brazilian miner Vale said on Tuesday it agreed to sell four large iron ore carriers to China Merchants Energy Shipping Co (CMES) , as it looks to raise cash in the midst of an iron ore price slump. The world's largest producer of iron ore said in a statement the details of the contract
Brazilian miner Vale has completed the sale of four other large iron ore carriers to China Ocean Shipping Company (Cosco), which was agreed last September. This transaction is related to the agreement signed with Cosco on September 12, 2014.
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
China Shipping Development (CSD) and Cosco have established a joint venture (JV), China Ore Shipping Pte., in Singapore to purchase four 400,000 dwt ore carriers from Vale and operate them. CSD and Cosco’s bulk shipping division Cosco Bulk Shipping holds 49% and 51% equity
Shipments of iron ore on the Great Lakes and St. Lawrence Seaway totaled 6.6 million tons in May, an increase of 53 percent compared to ice-impacted April, and 4 percent better than a year ago and the month’s 5-year average, according to the Lake Carriers’ Association (LCA)
U.S.-flag Great Lakes freighters (lakers) moved 10.8 million tons of dry-bulk cargo in May, their highest total for that month since 2008. The surge is at least partially attributable to the fact that no ice delays were experienced this May.
“The prosperity of the United States is inextricably entwined with that of the rest of the world and international trade agreements provide stability and equity enabling increased trade,” said American Association of Port Authorities (AAPA) President and CEO Kurt Nagle in
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
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.