Iron Ore Producer News

After implementing the vessel-to-cloud Vessel Insight technology to Guaibamax Bulk Carriers in 2020, Vale, iron ore producer and charterer of one of the world’s largest fleet of ore carriers, has signed with Kongsberg Digital to install Vessel Insight on four Valemax vessels, a continuation of Vale's investment in technology for efficient vessels, such as the Valemax and Guaibamax freighter classes.Vale signed the agreement with Kongsberg Digital to implement Vessel Insight Connect to Valemax bulk carriers, which are long-term charted and owned by Asyad Shipping.

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.

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…

The Baltic Exchange's main sea freight index fell on Tuesday, recording its steepest fall in over a month on lower rates across all vessel segments.The Baltic index, which tracks rates for capesize, panamax and supramax vessels that ferry dry bulk commodities, dropped 14 points, or 2.3%, to 603, its biggest daily percentage decline since Feb. 7.The panamax index declined by 28 points, or 3.6%, to 746, its 12th successive fall.Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60…

South Korea’s Hyundai Heavy Industries (HHI) has clinched a deal worth approximately US$400 million to build five very large ore carriers(VLOCs) from Seoul-based shipper Polaris Shipping. "HHI has signed a $400 Million worth contract to build five 325,000 dwt VLOCs (Very Large Ore Carrier) with Polaris Shipping. It is the option exercised following the contract of ten same class VLOCs with Polaris Shipping on September 25," said a company statement. HHI Group’s shipbuilding affiliates have so far this year won new orders of 110 ships worth $ 6.7 billion, 90% of the $ 7.5 billion annual target. According to Pulse News, Polaris Shipping upon placing an $800 million order with Hyundai Heavy Industries for 10 VLOCs last month had the option to place additional shipbuilding orders.

The man responsible for giving the dry bulk industry the valemax died on Sunday  in a Sao Paulo plane crash. Roger Agnelli, the former head of the Brazilian mining giant Vale, has died after his private jet crashed into a residential building in Sao Paulo, local media reported. He was 56. Agnelli, his wife and two of his children were among seven killed when his aircraft slammed into the building around 18:20 GMT on Saturday, minutes after taking off from an airport in northern Sao Paulo, an aviation official told Reuters news agency. Agnelli took over as president and chief executive of Vale in 2001 after nearly 19 years at one of the country’s largest banks, Banco Bradesco, which is a major shareholder in Vale.

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 shares in the JV respectively. China Ore Shipping will buy four second-hand valemax vessels from Vale Shipping Singapore Pte., a unit of the world's major iron-ore producer, for 445 million U.S. dollars, says a joint statement from the companies. It has signed a 20-year pact with Vale, under which Vale will charter ships owned by China Ore Shipping to transport the steel-making raw material to the world's second-largest economy.

Brazilian mining company Vale SA is close to making a "strategic" announcement concerning its coal unit, the company's chief executive Murilio Ferreira said on Thursday during a conference call with investors without providing details. Vale, the world's largest iron ore producer, has previously said it is trying to sell a stake in its Moatize coal mine, rail and port project in Mozambique. Rio de Janeiro-based Vale, which reported a surprise $1.44 billion third-quarter loss earlier on Thursday also said high-cost iron ore producers are not closing mines as quickly as expected. Still, iron-ore chief Jose Carlos Martins said during the…

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 assets in Guinea. Most interest is focused on Simandou, one of the world's biggest deposits. Any potential investors in Simandou are treading carefully, however. Israeli-owned BSG Resources, which was stripped of its license to develop part of Simandou following a Guinean corruption investigation, is seeking arbitration and has threatened to sue companies that invest in its former license area.

Cosco says Vale shuns Its vessels because of China's ban on Vale's mega-ships Bloomberg News reports that  China Ocean Shipping (Group) Co., the nation’s biggest operator of dry-bulk ships, has said Vale SA (VALE3) was refusing to use its vessels in protest over a Chinese Government ban on the Brazilian miner’s mega-ships. The state-owned company, known as 'Cosco', expects a “big” impact on operations from the boycott and it’s considering filing a complaint with China’s Ministry of Commerce, President Ma Zehua stated in Beijing. Vale, the world’s biggest iron-ore producer, has shunned unit China Cosco Holdings Co.’s fleet for about two months, even if it meant using more expensive ships from other owners, Ma Zehua said.

Vale SA, the iron-ore producer building a fleet of the world’s largest commodities ships, said its Vvalemax vessels carrying the raw material can stop at other countries if not allowed to enter Chinese ports, according to a Bloomberg report. The fleet, which will have the capacity to transport about 60 million metric tons of iron ore per year once fully in operation, can serve alternative ports including those in Malaysia and Oman. Vale is spending a reported $8.1b on the valemax vessels, including buying 19 very large ore carriers and leasing another 16 in long-term contracts, as it seeks lower freight costs from Brazil to China, its biggest market.

Hempel recently signed a contract with Brazilian mining giant Vale, the world’s largest iron ore producer, to supply coatings for a five-vessel conversion project. The Hempel fouling release coating HEMPASIL X3 was designed to help reduce vessel maintenance costs, fuel consumption and greenhouse gas and biocide emissions. Danish-based Hempel will supply 150,000 liters of HEMPASIL X3 or advanced tin-free antifoulings for Vale’s forthcoming five-vessel conversion project. Five of Vale’s Very Large Crude Carriers (VLCCs) will be converted to Very Large Ore Carriers (VLOCs) at the Yulian Shipyard and at the Huraung Dan Dong Shipyard in China. Hempel has been working closely with Vale, who plans to extend its fleet of ships to 50 by the end of 2013.