rss icon Subscribe
desktop mobile

Port Hedland to Reopen as Cyclone Fades

File Image (CREDIT: AdobeStock / (c) mode list)

Posted by Joseph Keefe

Storm winds seen easing, landfall due later on Friday; key iron ore port 'out of warning status.'
Australia's Port Hedland iron ore terminal will likely reopen on Saturday after Australia's weather bureau cut the forecast strength of a cyclone bearing down on the continent's far northwest, the port's operator said on Friday.
Cyclone Joyce, a Category 1 storm, is holding just off the beaches of Pilbara iron ore belt, prompting the overnight closure of the world's biggest iron ore export terminal, 1,700 km (1,050 miles) north of Perth, as a safety precaution.
Shipping operations are expected to resume at 6 a.m. Saturday (2200 GMT Friday) should weather conditions improve.
The port accounts for over half of Australia's iron ore exports, handling more than a million tonnes a day from the Pilbara iron belt, the majority bound for Chinese steel mills.
The storm is forecast to cross the sparsely populated coast about 250 km northeast from Port Hedland later on Friday. It is no longer expected to reach Category 3, or severe strength, according to the Australian Bureau of Meteorology.
The storm is forecast to make landfall later on Friday and is predicted to weaken further as it travels inland.
Port Hedland was cleared of ships and closed on Thursday evening.
The storm is the second to menace Australia's northwest in as many weeks. Cyclone Hilda blew down trees and caused minor damage at Broome last week.
On average, there are 10 to 13 tropical cyclones between November and April in the Australian region, four of which typically cross the coast, data from the bureau shows.
The possibility of a protracted closure at Port Hedland if Cyclone Joyce had intensified failed to stoke iron ore buying, despite China's strong reliance on supplies from Australia.
Iron ore futures on the Dalian Commodity Exchange were down 2 percent in trading at the Shanghai Futures Exchange, after falling 0.4 percent in the previous session.
Iron ore for spot delivery to China's Qingdao port <.IO62-CNO=MB> rose 77 cents, or about 1 percent, to $79.08 a tonne on Thursday.

Reporting by Tom Westbrook

Jan 12, 2018

 

Bulk Carriers

Noble Group Sells Kamsarmax Dry Bulker to Aeolian Spirit Shipping

Image: Noble Group

The commodity trader Noble Group has entered into an agreement with Aeolian Spirit Shipping

China to Impose 25% Tariffs on 659 US Goods

© xy / Adobe Stock

China will impose additional 25 percent tariffs on 659 U.S. goods worth $50 billion in response to

New Coal Carrier Ordered in Japan

A new vessel has been ordered from Japanes shipyard Oshima Shipbuilding Co. Ltd. for delivey in 2021. The 98,500 dwt ship will mainly be used for transporting coal from locations

Government Update

DP World Not for Settlement with Djibouti

Image: DP World

The Dubai-based port operator DP World said that it will not consider alternative legal options

China Surprises with Threat on US Energy Exports

© Dale Stagg / Adobe Stock

Beijing surprised oil markets with threats to levy tariffs on imports of U.S. crude oil

Trump Announces 25% Tariff on Chinese Technology

© zhu difeng / Adobe Stock

President Donald Trump on Friday announced that the United States will implement a 25 percent

Maritime Apps