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Iron Ore

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.  So in the current situation, ship-owners feel an increased flow of iron ore from Brazil, the world’s second largest producer, could boost the rates, as hauling the ore from there to China cost almost double than that from Australia.   Brazil accounts for almost 25% of the global market share of iron ore’s trade volume. Brazil is home to one of the largest mining companies, Vale S.A.    Brazil’s Ministry of Industry, Development and Foreign Trade had, last month, said iron ore exports from the country had increased by over 17 per cent in December to cross 37 million tonnes (mt), compared with the year-ago month.   Vale increased output is reflected in Brazilian iron ore exports for December. The volumes from Brazil surged to 37.39 million tons in December, which is a huge 44% month-over-month.    Shivakumar, Group CFO of Great Eastern Shipping hoped that Brazil is able to sell their iron ore more competitively than the Australians, because Brazilian iron ore to China is the best possible thing to happen to dry bulk shipping.


Australia's Iron Ore Miners Hang Tough as Prices Fall

By James Regan, Reuters If Australian miners are worried about the dramatic decline in iron ore prices, it doesn't show. At an annual gathering of many of the world's biggest and smallest iron ore producers here the mood is upbeat - as if the heftiest one-day fall in ore prices since the global financial crisis never happened. "Iron ore mining isn't tennis, it's a contact sport," said David Flanagan, chairman of Atlas Iron Ltd


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.


Australia's Port Hedland Iron Ore Exports to China Rise

Port Hedland: Pilbara Ports Authority

 Iron ore shipments to China from Western Australia's Port Hedland, the world's biggest terminal for shipments of the steelmaking raw material, rose 3.3% from February to 31.2 million mt in March.    While the rise is partly attributable to fewer shipping days in February, it also underscores efforts by Australian miners to displace China’s domestic production of iron ore. It also indicates that demand remained strong despite weakness in the market.  


Essar Ports Acquires Vizag Port's Iron Ore Complex

Vishakhapatnam Port Trust’s Iron Ore Handling Complex on a Build-Operate-Transfer basis

  Essar Ports Ltd. (EPL) today announced the taking over of Vishakhapatnam Port Trust’s (VPT) Iron Ore Handling Complex on a Build-Operate-Transfer (BOT) basis, for a period of 30 years. Essar Vizag Terminals Ltd. (EVTL), a wholly owned subsidiary of EPL, will comprise three berths (two outer harbour berths and one inner harbour berth) with a combined capacity of 23 Million Tonnes per Annum (MTPA) which will be developed in two phases.


Dry Bulk Shipping Outlook Good

Graph: BIMCO

 The dry bulk commodity imports into and exports out of China we have seen in the first half of 2016 are very positive – and nothing short of extraordinary, says BIMCO.   But, putting it into perspective, compared to the devastating freight rate levels over the same period, it highlights that something is very wrong in the dry bulk market. The market is nowhere near balanced.   BIMCO’s data on seaborne iron ore imports into China, shows a growth of 9


Iron-Ore Ship Rates Rise as China Spends

Iron-Ore carrier daily rates rebound as China spends US$158-billion. Iron-ore ships are poised to earn more than operating costs for the first time this year as rates rally on speculation Chinese steel mills will accelerate imports because of a 1 trillion-yuan ($158 billion) building program, reports Bloomberg Business News. Capesizes, each carrying 160,000 metric tons of ore, will earn $12,500 a day in the fourth quarter


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 $1.43 billion, down 43 percent on the previous quarter and below the average analyst estimate of $1.89 billion in a Reuters survey. "It was a very challenging environment where the price of our most important product has dropped by


Great Lakes Freighters Getting Underway Again

The Lake Carriers’ Association (LCA) announced that the 2016 shipping season on the Great Lakes began on March 2 when the tug/barge unit Dorothy Ann/Pathfinder loaded 4,600 tons of iron ore at Cleveland Bulk Terminal for delivery to ArcelorMittal Cleveland at the end of the navigable portion of the Cuyahoga River. That much iron ore will keep the mill in operation for about one day. The vessel could have delivered another 4,100 tons


Capesize ‘Uptick’ Not Strong Enough for an Upsurge

A rise in iron ore trade, higher steel prices and increased scrapping have all contributed to recent improvements but the outlook is fragile April 19, 2016. The latest Dry Bulk Freight Forecaster from Maritime Strategies International* analyses the recent uptick in the Capesize market and considers the positive trends and mitigating factors. MSI finds the indicators are relatively positive in the short-term for iron ore trade


Higher Shipping Rates Boost Baltic Index

© Volodymyr Kyrylyuk / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Wednesday due to strengthening rates across all vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


US-flag Cargo Movement on Lakes Little Changed in January

U.S.-flag Great Lakes freighters (lakers) moved 2.1 million tons of dry-bulk cargo in January, a decrease of 125,000 tons compared to a year ago, according to the Lake Carriers’ Association  (LCA).   This January’s float was down nearly a quarter from the month’s


Asia Dry Bulk-Capesize Rates Up on Increased Traffic

File Image (CREDIT: AdobeStock)

Record iron ore prices fuelling capesize chartering boom; freight rates rise by around $1 per tonne in a week.   Freight rates for large capesize dry cargo vessels on key Asian routes, which hit multi-week highs on Wednesday, are set to continue to climb next week on buoyant iron ore cargo


Baltic Index Rises on Broad Demand

File Image (CREDIT: AdobeStock)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday on stronger demand across all vessel segments.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 19 points


Pirates Attacking Bigger Ships off Philippines

File Image: a piracy interdiction operation (Credit: IMB)

Attacks in waters east of Philippines shift to big ships; ReCAAP, security groups recommend avoiding Sulu and Celebes Seas.   Asian pirates are focusing more of their attacks on larger merchant ships near the Philippines, hoping for bigger ransom payments from kidnapping their crew


US-flag Cargo on the Great Lakes Down 4.5% in 2016

© icholakov/ Adobe Stock

U.S.-flag Great Lakes freighters (lakers) moved 83.3 million tons of cargo in 2016, a decrease of 4.5 percent compared to 2015, according to the Lake Carriers’ Association (LCA). The 2016 float was also 7.7 percent below the fleet’s five-year average.  


Soo Lock Modernization Presents $1.7 Bln Benefit -Study

A new study commissioned by the U.S. Treasury Department lists modernization of the locks at Sault Ste. Marie, Mich., as one of the 40 American transportation and water “megaprojects” that could bring as much as $1.3 trillion in national economic benefits


Dry Bulk: Less Pain, Not Much Gain

© Volodymyr Kyrylyuk/ Adobe Stock

The dry bulk market’s strong end to 2016 is unlikely to last long into 2017, according to the latest research from Maritime Strategies International. In its latest quarterly dry bulk market report*, MSI predicts a depressed year for rates in 2017, a year marked by multiple risks to recovery


Shippers Avoid New "pirate hotspot" west of Philippines

file Image: Pirates off the coast of Somalia are intercepted and disarmed. (Credit: EUNAVFOR)

Piracy has surged in Sulu, Celebes Seas; waters part of route carrying iron ore to Asia.   A surge in piracy to the west of the Philippines is forcing shipowners to divert vessels through other waters, stoking their costs and extending the time it takes to transport goods such as Australian


A Look Back at the Past 25 Years of Shipping

Photo: © stepheng101 / Adobe Stock

Clarksons Research take a look back to 1992 and compare the shipping industry then to its profile today. If this reveals anything it’s that while many things change dramatically, in an industry like this some things don’t appear to change too much at all.


Great Lakes/Seaway Iron Ore Trade Slid 0.5% in 2016

Photo: © johnsroad7 / Adobe Stock

Shipments of iron ore on the Great Lakes and St. Lawrence Seaway totaled 54.1 million tons in 2016, a decrease of 0.5 percent compared to a year ago, according to the Lake Carriers’ Association (LCA). Shipments also trailed the trade’s long-term average by 8.3 percent.  


Star Bulk Carriers Announces Private Placement

Photo: Star Bulk Carriers Corp.

 Star Bulk Carriers Corp. announced the closing of its previously announced private placement of 6,310,272 common shares, at a price of $8.154 per share.    The aggregate proceeds to Star Bulk, net of underwriting fees and offering expenses, were approximately $50.6 million


Sino-Australian Seaborne Trade

Graph: Clarkson Research Services Limited

 In recent decades, trade between the Australia and China have made an increasingly significant contribution to growth in global seaborne trade, and the signing of the China-Australia Free Trade Agreement in 2015 is driving further co-operation, says a report by Clarkson Research Services.


Van Oord JV Bags Santos port Dredging Contract

Courtesy Van Oord

Van Oord has been awarded a contract by the Brazilian Ministry of Transport, Ports and Civil Aviation for the capital and maintenance dredging of the port of Santos. This project in the largest port of South America will be executed in a joint venture with Boskalis


Improved Demand Easing Dry Bulk Vessel Oversupply

An impressive outlook for dry bulk demand coupled with a small orderbook of newbuilds Drewry

With contraction in vessel supply and healthy demand growth, the dry bulk shipping market is expected to recover from 2017 onwards, according to the latest edition of the Dry Bulk Forecaster, published by global shipping consultancy Drewry.






 
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