By Henning Gloystein and Muyu Xu SINGAPORE/BEIJING, Feb 1 (Reuters) - Dozens of ships carrying coal and iron ore to China are stuck outside ports waiting to unload, according to shipping data, with traders saying harbour authorities are taking longer than usual to clear the imports with customs officials. Refinitiv data showed on Friday that more than 300 dry-bulk freighters … [Read more...]
Iron Ore Rockets as Vale’s Supply Disruption Convulses Market
By Krystal Chia (Bloomberg) -- The global iron ore market was pitched into turmoil after Brazil’s Vale SA, the world’s largest producer, outlined plans to cut output after a deadly dam breach, buoying shares of rivals as investors weighed the impact of the disruption. Prices soared, with futures rallying more than 9 percent. Vale will decommission some tailings dams, curbing … [Read more...]
Capesizes Sent Packing After Accident at Brazil Iron Ore Terminal
By Alberto Alerigi and Gustavo Bonato SAO PAULO, April 19 (Reuters) - The loading of iron ore at Brazil's Itaguaí terminal operated by mining and steel firm Companhia Siderúrgica Nacional has been halted since Saturday due to an accident, sources and the Itaguaí Port Authority told Reuters on Wednesday. Four to five Capesize bulk carriers that were waiting to load iron … [Read more...]
270,006 Tonnes: Largest Iron Ore Cargo Departs Port Hedland
The largest single cargo of iron ore ever shipped from Western Australia's Port Hedland set sail last week aboard the 300,000 dwt Very Large Ore Carrier HL Tubarao. The Fortescue Metals Group loaded the vessel which departed the port last Wednesday, March 1, 2017, en route to Gwangyan, South Korea, where it is due later this month. According to the Pilbara Ports Authority … [Read more...]
Joint Industry Project to Develop LNG-Fueled Capesize Bulk Carrier for Australia-China Trade
New regulations on limiting sulphur and nitrogen oxides emissions and a burgeoning global infrastructure are adding to the growing momentum for the widespread adoption of LNG as a marine fuel. Now a new joint industry project is looking to capitalize on the opportunity to drive additional development of the market by assessing the commercial potential of LNG-powered bulk … [Read more...]