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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 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


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)


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.


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


U.S. Flag Great Lakes Cargo Down in 2012

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U.S.-flag Great Lakes freighters carried 89.5 million tons of dry-bulk cargo in 2012, a decrease of 4.6 percent compared to 2011. The 2012 float was 1.5 percent off the five-year average for U.S.-flag lakers.   U.S.-flag lakers carried 45.2 million tons of iron ore in 2012, or 73.3 percent of the total volume of iron ore moved on the Great Lakes last year. The 45.2 million tons of iron ore carried by U.S.-flag lakers represented a decrease of 4.3 percent from 2011.  


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.


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.


July is Best Month for US-flag Lakers in 2 Years

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U.S.-flag Great Lakes freighters (lakers) moved 11,365,550 tons of cargo in July, their highest monthly total in two years.  The industry’s July total also represented increases of 8.6 percent compared to June and 10.2 percent compared to a year ago.


Great Lakes’ Ore Float at 6-year High

Photo: LCA

Iron ore shipments on the Great Lakes totaled 7,231,506 tons in July, the highest level since July 2008 when 7,318,961 tons were loaded at U.S. and Canadian ports. This July’s total also represents an increase of 8.6 percent over June and 10.2 percent over a year ago.


BIMCO: Bulk Market Awaits Freight Rates Lift

Photo courtesy of BIMCO

Dry Bulk Shipping: All eyes on Brazilian iron ore exports, as we await the long-anticipated lift in freight rates. Demand The freight market, which performed so well in Q1, has certainly not delivered in the past four months. BDI has dropped from 1,621 on March 20 to hit 747 on July 29


Capesize Rates to Rise Much Higher this Year

According to Commodore Research & Consultancy, capesize rates ended last week at $15,561/day, which marked a week-on-week increase of $6,167 (66%). Capesize rates have been able to rise by such a large amount so quickly, as vessel availability in both the Atlantic basin and Pacific basin have


Trading Dutch Well Placed to Pursue Russia Sanctions

The seafaring Netherlands prides itself on being a trading nation, reluctant to let politics get in the way of a good deal. But since the downing, allegedly by Moscow-backed rebels in eastern Ukraine, of Malaysian Airlines flight MH17 with the loss of 193 Dutch lives


Marseilles Fos Reports Mixed First Half

Photo: Marseilles Fos

First-half container traffic at leading French port Marseilles Fos totalled 583,287 teu – up 7% on the first six months last year - marked by a 10% increase at the deepsea Fos terminals. Dry bulk and cruise passenger volumes also rose significantly, the port announced today


Asia Dry Bulk Capesize Rates Stay Flat

Bulk carrier anon: File photo

Rates for capesize bulk carriers on key Asian routes are set to remain in the doldrums next week, staying flat or gaining just a few cents as an oversupply of ships weighs on cargo availability, ship brokers said. But there could be brighter prospects in the coming weeks on rates for voyages from


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


Japan PM Tells Brazil Time to do More Business

Japan's Prime Minister Shinzo Abe touted the success of his economic policies on a visit to Brazil on Friday and said it was time for the two nations to expand their trade and investment partnership. On the first visit to Brazil in a decade by a Japanese prime minister


Glencore Courts Guinea's Iron Ore Treasures

Miner and commodity trader Glencore has expressed interest in iron deposits in Guinea, a presentation obtained by Reuters shows, although the company said it had not pitched for a stake in Simandou, the country's largest deposit. Glencore is the latest mining major looking to invest in iron ore


St. Lawrence Seaway Cargo Shipments Return

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Over 15 million metric tons of cargo moved through the St. Lawrence Seaway during the month of July, down just 4 percent over last year, marking a sustained comeback after the slow start to the shipping season. "The month of July was extremely busy for our ports on the Great Lakes-Seaway


Vale Plans to Double Iron Ore Exports to China

Photo: Vale

Brazilian mining company Vale SA plans to double its iron ore exports to China within five years, Jose Carlos Martins, the company's head of ferrous metals, told reporters on Thursday. Rio de Janeiro-based Vale is the largest producer and exporter of iron ore


Prospects for the Panama Canal Alternative: Analysis

Panama Canal locks: Photo Panama Canal Authority

While infrastructure projects, especially canals, bear a certain element of inherent skepticism, their impact on global trade flows should not be taken lightly. Although the Panama Canal’s expansion will likely have a more muted effect on the tanker market than other shipping sectors


Newport Shipping Upbeat on Dry Bulk Segment

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Freight rates are set to rise across all dry bulk carrier segments as the global economic recovery gains momentum, ending the sector’s most bearish run since the start of the economic crisis in 2008/2009. According to the latest edition of Newport Shipping’s Dry Bulk Market Outlook


Dry Bulk Carrier Segment Revival Seen by Analyst

Frontispiece of report: Image courtesy of Newport Shipping

Freight rates are set to rise across all dry bulk carrier segments as the global economic recovery gains momentum, ending the sector’s most bearish run since the start of the economic crisis in 2008/2009, according to Newport Shipping’s 'Dry Bulk Market Outlook 2014 Q2'.






 
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