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Ore Trade

Great Lakes Iron Ore Trade Up 8%

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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)


Great Lakes: Less Ice Sees Ore Ships Thrive

Photo: Ben McClain

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


Great Lakes Ore Trade Down 11.3% in March

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


LCA: Great Lakes Iron Ore Trade Up 9 Percent in August

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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


Great Lakes Iron Ore Up 8 PCT in November

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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


Great Lakes Iron Ore Trade Down 5.3% in 2013

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.


First Iron Ore Trade Using CargoDocs Electronic Bills of Lading

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)


Brazil Iron Ore Terminal will Start This Year

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.


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.


U.S.-Flag Lakes

U.S-Flag cargo movement on the Great Lakes in July fell by 1.5 million tons compared to the same period last year, the largest decrease in recent memory. The season-long string of monthly decreases now amounts to a five-million ton shortfall compared to the same point in 1998. Iron ore cargoes loaded into U.S. bottoms in July totaled 5.9 million tons, a decrease of 18.2 percent. However, the season-to-date total for iron ore is directly tied to the continued unfair trade in steel


Maybulk to Build Five More Ships

Pic: Malaysian Bulk Carriers Bhd

 Unfazed by the tough market conditions that the shipping industry is faced with, Malaysian Bulk Carriers Bhd (Maybulk) said it will move forward with fleet renewal activities.    Maybulk is building five new ships to expand its fleet size to 27 vessels by 2018


Korean Shipper Files for Bankruptcy

 Korea’s dry bulk shipping company Daebo International Shipping has reportedly filed an application for rehabilitation proceedings with a court in South Korea.   Daebo is the third dry bulk shipping company to file for bankruptcy protection this month following China’s


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


Softer Panamax Rates Drag Down Baltic Index Slightly

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged down slightly on Monday as rates for panamax vessels fell. The overall index, which gauges the cost of shipping resources including iron ore, cement, grain, coal and fertiliser


Oversupply, China Slowdown Push Freight Prices Down

Picture credit: International Chamber of Shipping

 Freight shipping prices have plummeted to a historic low, fueled by a long-standing problem of too many ships and lower demand from China, as per a report in AFP.   However, the economists say that this is not a serious warning sign on the global economy.  


Baltic Index Edges Higher on Capesize Gains

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose for the second consecutive day on Friday on higher rates for capesizes and smaller vessels. The overall index, which gauges the cost of shipping resources including iron ore, cement


Baltic Index Rebounds Slightly from Record Low

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged up slightly on Thursday on higher rates for panamaxes and smaller vessels. The overall index, which gauges the cost of shipping resources including iron ore, cement, grain


Weak Vessel Demand Keeps Baltic Index at Record Lows

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, hit another record low on Wednesday as demand for vessels fell ahead of the Lunar New Year holiday. The overall index, which gauges the cost of shipping resources including iron ore, cement


Second Bulk Shipper Files for Bankruptcy

Photo: Winland Ocean Shipping Corp

Dozens of iron ore and coal carriers idled as Baltic dry index falls to all-time low. A second dry cargo shipper has filed for bankruptcy following a collapse in freight rates that has forced many companies to idle vessels used to haul iron ore


China Policy Change Opens Door for Vale Mega-Ships

A Valemax bulk ship at the dock in Japan (photo: Vale)

China has amended rules around ships it will allow to berth at mainland ports, paving the way for Brazilian miner Vale to ship iron ore in its giant 400,000 deadweight tons (DWT) carriers. Vale's mega ships, the world's biggest bulk ore carriers


Baltic Sea Freight Index at All-time Low

Pic credit: International Chamber of Shipping

 The Baltic Exchange's main sea freight index slid to an all-time low on Monday as sluggish cargo demand especially from China battered sentiment, according to data on Monday from the Baltic Exchange in London.  The overall index was down 5 points, or 0


Genco Shipping among Top 10 Bankruptcies of 2014

Image: Genco Shipping & Trading Ltd

Peter Georgiopoulos’s Genco Shipping & Trading Ltd., an operator of dry-bulk cargo ships, steamed into the No. 3 berth on the Top 10 List for 2014 when it filed for chapter 11 protection on April 21, 2014, in the Southern District of New York with nearly $3 billion in assets and $1


Shipping Rates Drop as China Cuts Coal Need

Pic: Nippon Yusen Kaisha

Shipping costs plunged to almost the lowest on record following tumbling demand for coal in China and weakening growth in the nation’s iron ore purchases, reports Bloomberg.  The Baltic Dry Index, which tracks freight rates for ships carrying raw materials


Baltic Sea Freight Index Falls to Lowest Level Since 1986

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, spiralled downwards to its lowest level in nearly three decades as rates for all the four vessel types continued to flounder.   The overall index


Russia Sea Ports Throughput Up 5.7% in 2014

Image: National Association of Commercial Sea Ports

Russia's sea ports (including the ports of Crimea) handled 623.4 million metric tons of cargo in 2014, up 5.7% from 2013, according to the data from the National Association of Commercial Sea Ports.  The total throughput of liquid cargo fell by 0






 
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