Brazil Iron Ore Terminal will Start This Year

Posted by Michelle Howard
Thursday, August 14, 2014

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.

Trafigura owns a controlling stake in the port with Abu Dhabi government investment fund Mubadala Development Co. The export terminal located in Rio de Janeiro state will be able to handle 50 million tonnes of iron ore per year, and could expand to 100 million tonnes.

Julian Eguren, chief executive officer of Brazilian steelmaker Usinas Siderúrgicas de Minas Gerais SA (Usiminas) , told reporters on Tuesday the port might not start until next year.

The market is watching the time frame closely as it will be a crucial outlet for mid-sized iron ore producers in Brazil to export their ore. Big projects in Brazil have been frequently delayed in the last few years.

(Reporting by Stephen Eisenhammer; Editing by Jeffrey Benkoe)

Maritime Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Bulk Carrier Trends

New Dry Bulk Facility at Khalifa Port

New AED 20 million facility will pack and transport dry bulk products for petrochemical and mineral manufacturers    Abu Dhabi Ports celebrated the groundbreaking

Port of Duluth Intermodal Project Underway

The U.S. Department of Transportation’s Maritime Administrator, Chip Jaenichen, today joined Senators Amy Klobuchar and Al Franken, Congressman Rick Nolan, Duluth Mayor Don Ness,

Chile Exporters Fret as Customs Strike Continues

A customs strike in Chile that began last week has started to affect exports and imports, although miners in the top copper producer said this week they have not yet been significantly impacted.

Ports

AAPA Applauds Senate Passage of Trade Promotion Legislation

The American Association of Port Authorities (AAPA) applauded Senate passage over the past weekend of the Bipartisan Congressional Trade Priorities and Accountability Act of 2015 (TPA-2015),

New Dry Bulk Facility at Khalifa Port

New AED 20 million facility will pack and transport dry bulk products for petrochemical and mineral manufacturers    Abu Dhabi Ports celebrated the groundbreaking

Port of Duluth Intermodal Project Underway

The U.S. Department of Transportation’s Maritime Administrator, Chip Jaenichen, today joined Senators Amy Klobuchar and Al Franken, Congressman Rick Nolan, Duluth Mayor Don Ness,

News

Mercury Marine Begins HQ Expansion

Mercury Marine announces 45,000 square foot EDP parts expansion to Fond du Lac global headquarters   Mercury Marine will add a 45,000 square foot expansion to

Scandlines Orders Ferry Battery System

Corvus Energy announces the signing of marine Energy Storage System (ESS) contract with Scandlines Denmark ApS; world’s largest battery hybrid electric fleet orders additional 2.

AAPA Applauds Senate Passage of Trade Promotion Legislation

The American Association of Port Authorities (AAPA) applauded Senate passage over the past weekend of the Bipartisan Congressional Trade Priorities and Accountability Act of 2015 (TPA-2015),

Government Update

AAPA Applauds Senate Passage of Trade Promotion Legislation

The American Association of Port Authorities (AAPA) applauded Senate passage over the past weekend of the Bipartisan Congressional Trade Priorities and Accountability Act of 2015 (TPA-2015),

Port of Duluth Intermodal Project Underway

The U.S. Department of Transportation’s Maritime Administrator, Chip Jaenichen, today joined Senators Amy Klobuchar and Al Franken, Congressman Rick Nolan, Duluth Mayor Don Ness,

Chile Exporters Fret as Customs Strike Continues

A customs strike in Chile that began last week has started to affect exports and imports, although miners in the top copper producer said this week they have not yet been significantly impacted.

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Offshore Oil Port Authority Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1516 sec (7 req/sec)