Baltic Index Losing Streak Continues as Capesize Rates Drag
The Baltic Exchange's main sea freight index, tracking rates for ships transporting dry bulk commodities, fell for the eighth consecutive session on Thursday, pressured by weakness in the capesize segment.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 73 points, or 5.6 percent, to 1,231 points, its lowest since June 4.The capesize index declined for the seventh straight session, tumbling 221 points, or 11.2 percent, to 1,747 points - also its lowest since June 4.
BP Completes $10.5-billion BHP Billiton Acquisition
London-based BP Plc BP has completed the $10.5-billion acquisition of BHP’s U.S. unconventional assets in a landmark deal that will significantly upgrade BP’s U.S. onshore oil and gas portfolio, in a move that upgrades and repositions its American onshore business.The portfolio includes assets in the highly-prized Permian-Delaware basin in Texas, along with two premium positions in the Eagle Ford and Haynesville basins in Texas and Louisiana (see map, below).The assets currently produce 190…
Port Hedland Iron Ore Shipments to China on the Rise
Iron ore shipments to China from Australia's Port Hedland terminal rose 5.3 percent in September from a month earlier, port data released on Wednesday showed.Iron ore shipments to China from the world's biggest iron ore port totaled 37.4 million tonnes in September, up from August's 35.5 million metric tons, according to the Pilbara Ports Authority.Total September iron ore shipments from the port totaled 43.5 million metric tons, up from 42.4 million metric tons in August.Port Hedland is used by three of Australia's top four iron ore miners, BHP Billiton, Fortescue Metals Group and Gina Rineha
Port Hedland Iron Ore Shipments to China Jump
Iron ore shipments to China from Australia's Port Hedland terminal rose nearly 10 percent in August from a month earlier, port data released on Monday showed.Iron ore shipments to China from the world's biggest iron ore port totalled 35.5 million tonnes in August, up from July's 32.4 million tonnes, according to the Pilbara Ports Authority.Total August iron ore shipments from the port totalled 42.4 million tonnes, higher than the 40.7 million tonnes shipped a month prior, but 1 pct lower than August 2017.Port Hedland is used by three of Australia's top four iron ore miners, BHP Billiton , Fort
The Digitalization of Tanker Logistics
The tanker business carefully dips its toes into the digital chartering, analytics and big (data) pond. It is a work in progress.Like every other business, raw materials, refined products and petrochemicals, are undergoing unprecedented waves of digitalization. However, shipping is one linkage, albeit an important one, within the much bigger supply chains for crude oil and products. But cargo is king, raising an important question: Will future efforts to link ship chartering, and ship brokerage…
Plans for Another South Australia LNG Import Plant in the Works
A private firm is looking to import liquefied natural gas (LNG) to South Australia starting in 2020, around the same time as two other proposed import projects, looking to fill a supply gap as domestic gas gets sucked into LNG exports.Venice Energy, set up by former BHP Billiton executives, plans to submit a development application to the South Australian government within the next month to park a floating storage and regasification unit (FSRU) in Port Adelaide, Managing Director Kym Winter-Dewhirst said.If regulatory approvals come through by March…
Port Hedland Iron Ore Shipments to China Climb in June
Iron ore shipments to China from Australia's Port Hedland terminal rose 7 percent to 39.69 million tonnes in June from a month earlier, port data released on Tuesday showed.Total June iron ore shipments from the world's biggest export terminal for the steelmaking raw material totalled 47.29 million tonnes, compared with 44.97 million tonnes in May, according to the Pilbara Ports Authority.Port Hedland is used by three of Australia's top four iron ore miners, BHP Billiton , Fortescue Metals Group and Gina Rinehart's Hancock Prospecting.Rio Tinto uses the nearby Dampier and Cape Lambert ports to
ExxonMobil Considers Importing LNG to Australia
ExxonMobil Corp, southeastern Australia's biggest gas supplier, is considering importing liquefied natural gas (LNG) to help plug a looming gas shortage from 2021 and protect its market share.The move would compete with plans by both Australia's no.2 energy retailer AGL Energy to start importing LNG by 2021 and a consortium involving Japan's JERA to start imports from 2020.ExxonMobil is also stepping up exploration off the coast of Victoria and considering developing a gas field called West Barracouta close to an existing field…
Port Hedland Iron Ore Shipments to China Rise 2.4% in May
Iron ore shipments to China from Australia's Port Hedland terminal in May rose 2.4 percent from a month earlier to 37 million tonnes, port data released on Monday showed.Iron ore shipments to China in April stood at 36.1 million tonnes.Overall iron ore shipments from the world's biggest export terminal rose to 45 million tonnes in May from 42.6 million tonnes in the previous month, the Pilbara Ports Authority said.Port Hedland is used by three of Australia's top four iron ore miners - BHP Billiton , Fortescue Metals Group and Gina Rinehart's Hancock Prospecting.(Reporting by Tom Westbrook; Edi
AGL Decision on LNG Import Terminal Expected in FY2019
AGL Energy Ltd, Australia's biggest power producer, expects to make a final investment decision on the country's first liquefied natural gas (LNG) import terminal in the financial year of 2019, a company official said on Friday.The A$250 million ($189 million) project will consist of a leased floating storage and regasification unit (FSRU) and jetty at Crib Point in the southeastern state of Victoria. The terminal will handle up to 130 to 140 petajoules a year, or 2.6 million tonnes of LNG…
Shipping e-Solutions to Power Efficiencies at Evergreen
Evergreen Launches New Electronic Documentation Function in Partnership with Bolero International. Evergreen Line introduces paperless Bill of Lading (B/L) and dispatch documentation via its ShipmentLink digital portal, enhancing connectivity for exporters and importers with banks, insurers, regulators, customs and port authorities. Evergreen is the first container carrier to integrate with Bolero’s proven electronic Bill of Lading (eBL) solution. These new services, provided in partnership with Bolero International…
Genco Opens Singapore Office
Genco Shipping & Trading Limited said it has opened an office in Singapore and has appointed Ivo Kempenaer as Vice President and Commercial Director, Head of Major Bulks. “Genco continues to take important steps to optimize our commercial strategy and enable the company to more fully capitalize on its leading and sizeable operating platform. We are excited to establish a Singapore presence and grow our footprint globally, supporting our efforts to offer a full-scale logistics solution and strengthen relationships with leading iron ore producers and charterers worldwide.” John C.
Martek Bucks the Trend on Gender Divide
Historically marine industries have been significantly male dominated but one business in Rotherham is bucking the trend. Martek Marine, who employ more than 60 staff, now boast a leadership team which is made up of 75% women. The business, which launched in 1999, serves 80 different countries and women currently make up 45% of their entire workforce. During 2016 both the BBC and BHP Billiton took steps to ensure that moving forward women make up 50% of their workforce. While…
Brazil Fines Samarco 142 mln Reais for Damages
Brazil's Environment Ministry fined mining company Samarco 142 million reais ($41.6 million) for damages to three protected areas resulting from a tailings dam burst in November, the ministry said on Friday. The ministry said in a statement the three areas on the coast of Espirito Santo state were contaminated by metals such as lead, coper and cadmium. The metals spilled from the dam and were carried all the way from Minas Gerais through the Doce River to the ocean. Experts from the Environmental Ministry found several species had been wiped out in the contaminated areas, the statement said.
Samarco Continues Polluting After Dam Burst
Samarco Mineração SA has not adopted measures to stop the leaking of mine tailings as required by a court after a deadly dam burst, a prosecutor said on Friday, an allegation that could delay the miner's return to operations. Prosecutor Carlos Eduardo Ferreira Pinto said in an interview with Reuters he would submit the opinion to court by Tuesday. If a judge agrees, Samarco will have to pay a daily fine of 1 million reais ($277,000) until the leaks stop. Environmental protection…
Valemax Mastermind Roger Agnelli Dies in a Plane Crash
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.
BHP Billiton Donates for Cyclone Relief
In response to the hardship experienced by local communities following Cyclone Marcia, BHP Billiton Sustainable Communities (BSC) today donated A$250,000 to the Salvation Army to provide much needed support to those affected. The funding will go toward the recently launched Salvation Army “Fill a Fridge” initiative with all funds used to provide essential food and household items to community members in central Queensland impacted by Cyclone Marcia. The Salvation Army’s Major…
Rio Tinto Energy Chief Let Go
Mining firms aim for simplification rather than growth; Rio's coal division worth at least $3.6 billion-Jefferies. In its latest effort to slash costs as commodity prices fall, Rio Tinto is letting go its energy chief and rolling its coal and uranium businesses into two other units, a move that could signal its intention to divest its coal assets. The world's second-largest mining company said on Friday it will fold its coal mines in Australia into the copper division while its smaller uranium business will be added to the diamonds and minerals group…
BHP Billiton Submission on Workplace Relations
BHP Billiton today welcomed the opportunity to provide a submission to the Productivity Commission as it considers improvements to the workplace relations framework in Australia. BHP Billiton’s submission includes recommendations for a number of specific enhancements to the workplace relations framework that could be made in the near term. These amendments would allow employers and employees to more effectively work together to support improvements to productivity and competiveness in the Australian economy.
BHP Billiton Commemorates the Anzac Legacy
On the 100th anniversary of the Anzacs’ landing at Gallipoli, BHP Billiton has honoured the contribution of serving Australians and New Zealanders past and present through its support of a number of commemorative initiatives across Australia including a A$10 million donation to the Anzac Centenary Public Fund (ACPF) through the BHP Billiton Foundation. In announcing the donation to the ACPF the Minister for Veterans’ Affairs and Minister Assisting the Prime Minister for the Centenary of Anzac, Senator the Hon.
Vale Concludes Sale of VLOCs to Cosco
Brazilian miner Vale has completed the sale of four other large iron ore carriers to China Ocean Shipping Company (Cosco), which was agreed last September. This transaction is related to the agreement signed with Cosco on September 12, 2014. The transaction amounted to 445 million dollars and the amount will be received by Vale upon delivery of the vessels to Cosco, which is scheduled to take place in June 2015. Under the agreement, four VLOCs ships are transferred to the Cosco and chartered to Vale for 25 years contract.
BHP to Spend $240 mln on Iron Ore Tug-Boat
BHP Billiton plans to construct a new eight pen tug harbour at Hunt Point in Port Hedland, as well as purchase six additional tugs, for $US240 million ($A326 million). The investment will also include an upgrade of workshop facilities, operational and service berths and two small boat moorings at the existing Nelson Point tug harbour. The project is expected to create up to 200 jobs in Port Hedland during construction phase. BHP is expected to show it shipped a record 250 million tonnes of iron ore through the port in fiscal 2015 when it releases its year-end operations report on Wednesday.
BHP Billiton Injects $240m into Port Hedland
BHP Billiton has approved $240 million (BHP Billiton share) to purchase six additional tugs and construct a new eight pen Tug Harbour at Hunt Point in the Port Hedland Port. The investment will also include the upgrade of workshop facilities, operational and service berths and two small boat moorings at the existing Nelson Point Tug Harbour. BHP Billiton Iron Ore President, Jimmy Wilson, said, “The project will mitigate the risk of a channel blockage by ensuring the continued safe escort of vessels in and out of the Port Hedland Inner Harbour.
BHP Shedding 100 HQ Jobs Amidst Commodities Rout
Global mining giant BHP Billiton intends to cut about 100 jobs at its Melbourne headquarters in coming years as it strives to lower overheads and streamline corporate operations amid a crash in minerals prices. BHP has reported double-digit price falls across all of its main commodities in fiscal 2015, which analysts expect will lead to a fall of around 40 percent in profit for the year. The job cuts will gradually see the number of staff in Melbourne drop to around 300 from 400 at present and a peak of 480, according to the company.
Changes on BHP Billiton Board
BHP Billiton Chairman, Jac Nasser, today announced a number of changes to the BHP Billiton Board of Directors. Anita Frew has been appointed to the BHP Billiton Board as an independent Non-executive Director, effective as of 15 September 2015. Ms Frew has over 18 years’ experience as a director and chairman on public company boards across a range of global sectors, including chemicals, engineering and finance. She is currently Chairman Designate of Croda International Plc, the speciality chemicals group and Deputy Chairman of Lloyds Banking Group Plc.
COP21 - 2 billion Tonnes of Goods Shipped Using GHG Rating
Market-led solution reduces shipping’s carbon dioxide emissions. Ahead of COP21, 26 of the 35 charterers that include vessel efficiency in their supply chain selection have come forward to highlight their proactive measures on climate change. By using the Greenhouse Gas (GHG) Emissions Rating to find the more efficient vessels these industry leaders are using their influence to incite change in the maritime industry by rewarding ship owners that prioritise efficiency. Developed in 2010 in response to customer demand…