Rio Tinto News

Mitsui O.S.K. Lines, Ltd. (MOL) and Rio Tinto have signed the partnership agreement to enhance collaboration on both safety and crew welfare initiative and decarbonization of maritime transportation.MOL and Rio Tinto have agreed to further collaborate on shipping decarbonization in addition to the existing commitment to the DOO program through a deal signed on January 24, 2024.The DOO program is a Rio Tinto initiative aimed at enhancing safety and improving crew welfare in the…

Pavilion Energy, the charterer of Singapore’s recently delivered first membrane LNG bunker vessel Brassavola, has concluded its first Ship-to-Ship (STS) LNG bunkering operation.Pavilion Energy said on February 19, 2024, the bunkering operation to Rio Tinto chartered dual-fueled bulk carrier, Mount Api was successfully completed.Brassavola was recently delivered by Seatrium, to owner Indah Singa Maritime, a wholly-owned subsidiary of Mitsui O.S.K Lines (MOL).Seatrium Delivers Singapore’s…

North Queensland Bulk Ports Corporation (NQBP) will soon begin maintenance dredging at the Port of Weipa. NQBP Acting Chief Executive Officer Belinda Kenny said the dredge vessel TSHD Brisbane is due to begin work from early May 2023.“Maintenance dredging works are an integral part of port operations,” Kenny said. “In the same way we maintain roads and rail lines for freight transport, we need to look after our port infrastructure to keep trade flowing. Regular maintenance dredging ensures efficient…

Australia's northwest region, home to the world's largest export hub for iron ore, could be hit by the most powerful tropical cyclone there in a decade as ports cleared ships and residents rushed to stock up on essential supplies. Cyclone Ilsa, located about 300 km (186 miles) off Australia's coast in the Indian Ocean, is expected to make landfall as early as Thursday night as a category four storm - one rung below strongest category five - packing winds of up to 275 km per hour, the Bureau of Meteorology said.

Shipping and commodities firms will commission more ships partly powered by liquefied natural gas (LNG) next year while ramping up trials for biofuel bunkering as they seek to cut emissions from ship operations, senior executives said this week.The shipping industry is seeking to reduce its reliance on oil as it tries to meet carbon emission reduction targets set out by the U.N.'s International Maritime Organization.These include the shipping industry cutting carbon emissions by 40% from 2008 levels by 2030…

Six giants in the global maritime industry have joined forces to address diversity, equity and inclusion (DEI) issues.The Maritime Diversity, Equity & Inclusion (DEI) Innovation Lab 2022, launched by Thome Group, Hafnia, Anglo American, RightShip, Rio Tinto, and Wilhelmsen, is an open competition for interested participants (individuals, institutions, companies, students etc.) to submit their ideas on addressing DEI in the maritime industry.Shortlisted teams will participate in the innovation lab to hone their pitches in preparation for a ‘Dragon’s Den’ session with industry leaders.

The Baltic Exchange's main sea freight index , tracking rates for ships ferrying dry bulk commodities, logged its first weekly gain since mid-June, as a jump in capesize rates outweighed declines in other vessel segments.The overall index, which factors in rates for capesize, panamax, and supramax shipping vessels, was up 140 points, or nearly 7%, at 2,150 points, its highest since July 4. It rose 4% for the week.The capesize index rose 462 points, or 18.8%, to 2,919 points, its highest since June 20.

Mining giant Rio Tinto has entered an agreement with the oil major BP to start a one-year biofuel trial to reduce carbon emissions from Rio Tinto’s marine fleet. Under the trial, BP is supplying Rio Tinto with marine biofuel for approximately 12 months. The fuel will be trialed on Rio Tinto’s RTM Tasman bulk carrier on a mix of Transatlantic and Atlantic-Pacific routes, in what has been described as "one of the longest-duration marine biofuel trials to date." "Sustainable biofuels…

The Metals Company (TMC) and Allseas have successfully completed the initial deep-water trials of the polymetallic nodule collector vehicle in the Atlantic Ocean, TMC said Thursday.To remind, back in March, The Metals Company (TMC), a company extracting battery metals from seafloor polymetallic nodules, said it had together with its strategic partner and shareholder, Allseas, completed the deployment and wet-test commissioning of their pilot robotic nodule collector vehicle at the Port of Rotterdam…

Maintenance dredging operations have commenced at the Port of Weipa in Australia, North Queensland Bulk Ports Corporation (NQBP) announced.The trailing suction hopper dredge (TSHD) Brisbane began work in late April for a dredging program that is expected to last about eight weeks.“Maintenance dredging works are an integral part of port operations,”  said NQBP CEO Nicolas Fertin. “In the same way we maintain roads and rail lines for freight transport, we need to look after our port infrastructure to keep trade flowing.

A consortium, led by the Global Maritime Forum and consisting of BHP, Rio Tinto, Oldendorff Carriers and Star Bulk Carriers Corp., signed a letter of intent (LOI) to assess the development of an iron ore Green Corridor between Australia and East Asia.To mobilize demand for green shipping and to scale zero- or near-zero greenhouse gas emission shipping, governments and industry decision-makers are increasingly looking to enable and simplify the task of decarbonizing the maritime sector by establishing Green Corridors: specific shipping routes where the economics…

The MIT Energy Initiative (MITEI) launched a new research consortium—the Future Energy Systems Center—to address the climate crisis and the role energy systems can play in solving it. Randall Field, Executive Director, discusses current research and the challenges ahead for the maritime sector.The reputation of the Massachusetts Institute of Technology (MIT) is such that it can take mammoth issues — such as driving the world to net zero — head-on, and suddenly make the impossible…

Rio Tinto forecast slightly weaker-than-expected 2022 iron ore shipments on Tuesday, citing tight labor market conditions and production delays from the new greenfields mine at Gudai-Darri project.The world's biggest iron ore producer said it expects to ship between 320 million and 335 million tonnes (Mt) in 2022 from the Pilbara region in Western Australia, a forecast with a mid-point below RBC estimate of 332 Mt and UBS' estimate of between 330 Mt and 340 Mt.Rio shipped 321.6 Mt of the steel-making commodity last year…

More than 150 leading companies and organizations including oil majors and port authorities on Wednesday called for the global shipping industry to be fully decarbonized by 2050, urging governments to step up action warning time was limited.With about 90% of world trade transported by sea, global shipping accounts for nearly 3% of the world's CO2 emissions and the sector is under growing pressure to get cleaner.UN shipping agency the International Maritime Organization (IMO), has said it aims to reduce overall greenhouse gas (GHG) emissions from ships by 50% from 2008 levels by 2050…

Japan-based Itochu Corporation has this week formed a joint study framework of 23 companies and organizations with the objective of collaboratively discussing common issues in pursuit of the utilization of ammonia as an alternative marine fuel, Bureau Veritas said Friday.The aim of the Joint Study Framework is to verify and organize common issues regarding the use of ammonia as a maritime fuel, which is a new challenge for maritime stakeholders. Also, BV said this was a step toward…

Australia's Fortescue Metals Group Ltd on Thursday narrowly beat its full-year estimate for iron ore shipments after a record fourth quarter, as strong demand from top consumer China offset the impact of bad weather.The world's fourth-largest iron ore miner fared better than rivals Rio Tinto and BHP, whose June quarter output dropped because of weather disruptions in Western Australia.Despite those disruptions, surging prices of the steelmaking ingredient and robust demand from China are expected to drive bumper earnings at miners…

Singapore-based tonnage provider Eastern Pacific Shipping (EPS) said on Tuesday it has entered into an agreement with mining and metal producer Rio Tinto to charter three newly built liquefied natural gas (LNG) dual-fueled Newcastlemax bulk carriers, with an option for three more.The 210,000 DWT ships will be built in China at New Times Shipbuilding and are scheduled for delivery starting from the second half of 2023.EPS CEO, Cyril Ducau, said, “This partnership between EPS and Rio Tinto is another important step forward for industry-wide decarbonization.

A Panamanian-flagged bulk carrier has been banned from Australian ports over "appalling" working and living conditions on board, the Australian Maritime Safety Authority (AMSA) said.The 235-meter Movers 3, operated by Qatari-based Aswan Shipping, was detained at anchor off Weipa in far north Queensland on March 4, 2021 due to several mechanical and survey issues, and for the poor conditions on board. Outstanding issues, namely the replacement of poorly maintained ballast tank head vents and the updated ship surveys…

Over 300 leading companies said on Tuesday they would work together to help hundreds of thousands of merchant sailors stuck on ships for many months due to COVID-19 in a crisis that risks creating more dangers at sea.About 90% of world trade is transported by sea, and coronavirus restrictions in many jurisdictions are affecting supply chains.In December the U.N. General Assembly urged all countries to designate seafarers and other maritime personnel as key workers. Nevertheless…

The Baltic Exchange's main sea freight index gained on Friday, and notched a weekly rise, on stronger rates across all vessel segments.The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels, rose by 50 points, or 4.3%, at 1,211, its highest since Nov. 30. The index rose 1.2% for the week.The capesize index gained 114 points, or 8.6%, at 1,434, a one-week high.But the index fell 5.7% this week, its worst in about a month.Average daily earnings for capesizes…

Glencore boss Ivan Glasenberg is to step down next year and Gary Nagle, head of coal assets at the mining and trading group, will become the new CEO.Glasenberg's departure will mark a shift to a new, younger leadership for the business, which, along with other mining companies, has faced increasing pressure from investors to cut carbon emissions.Glasenberg, 63, has been chief executive since 2002 and investors have been expecting a succession plan after several senior members…

The Baltic Exchange's main sea freight index edged up on Friday, helped by rising rates for capesize vessels.The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, rose 11 points, or about 0.6%, to 1,710.The Baltic capesize index rose 54 points, or 1.8%, to 3,025.Average daily earnings for capesizes, which typically transport cargoes of 170,000 tonnes to 180,000 tonnes, including iron ore and coal, was up by $446 at $25,085.Rising demand for iron ore from China, as the world's second-largest economy gradua

Canadian bulk shipping company Fednav said Monday it will reorganizing its commercial and technical shipping businesses under one management entity.The Marine Department, led by Executive Vice-President Tina Revsbech, will unite the traditional Chartering and Operations teams with their counterparts in the Shipowning, Technical, and Arctic units.In addition, Fednav announced the appointment of Isabelle Brassard as Senior Vice-President, Logistics and Sustainable Development, effective September 2020.Reporting to Paul Pathy…