Pilbara Ports Authority recently published its monthly shipping statistics for December 2019, marking a delivery throughput of 64.6 million tonnes (Mt). That means a 2% increase in comparison with December’s throughput the previous year, in 2018.
China’s imports of crucial commodities are presenting a rapid development the last months, showing that Beijing’s efforts may lead to a fruitful outcome and its trade dispute with the US may not be as harmful as expected, according to Reuters’ Clyde Russell.
JSW Infrastructure reported the commissioning of a new iron ore terminal at Paradip Port in Odisha, India, enabling the country to provide capesize shipments and significantly reduce the preberthing delays at the port.
BHP, Melbourne-based resource company, issued a bulk carrier tender for LNG-fuelled transport for up to 27 million tonnes of its iron ore. According to the company, ‘it is the world’s first such tender.’ The tender is available for a select group of industry leaders, from ship owners, banks and LNG fuel network providers.
London-based mining company Anglo American announced it has offset the carbon emissions for an ocean freight voyage from South Africa to Europe, using RightShip’s carbon accounting tool and offset credits purchased from South Pole.
BIMCO’s Chief Shipping Analyst, Peter Sand, launched the analysis ‘It’s the steel production, stupid!’, announcing the end of China iron ore cape run. The analysis focuses on the fact that Chinese imports of iron ore are continuously decreasing, whereas the nation’s crude steel production keeps growing.
Australian mining operations have suffered some disruption after two cyclones hit the country over the weekend, mining giants Rio Tinto, BHP Group and Fortescue Metals informed. Meanwhile, key iron ore ports remained closed, but Pilbara Ports Authority said it has re-opened the Ports of Hedland and Ashburton on 26 March.
A Brazilian court has ordered Vale SA, the world’s largest iron ore miner, to suspend operations at two more dams. The court demanded the company to prove the structures are stable, following an accident in the Vale’s facilities in January that killed about 300 people.
Drewry published an analysis on iron ore inventories at Chinese ports and the uncertainty that exists at the global economy that threatens the demand of capesizes. Rahul Sharan, Drewry’s Lead Research Analyst, expects that the demand for capesizes in 2019 will be proportional to iron ore inventories at Chinese ports.
High iron ore inventories at Chinese ports and uncertainty in the global economy are putting the demand for Capesizes at risk. Drewry believes that demand for Capesizes in 2019 will be proportional to iron ore inventories at Chinese ports. Despite the fact that Chinese steel production will increase in 2019, a further reduction in iron ore inventories could negatively affect the demand for dry bulk vessels.
