Global iron ore shipments increased 3.8% Y/Y, according to BIMCO
NewsGlobal iron ore shipments rose in Q1 2024 but with Chinese steel production weaker than expected, future shipments may decline due to oversupply.
Two Western Australian iron ore-driven port projects may be revived after Chinese and other potential developers showed renewed interest. Progress on the deepwater port of Oakajee, north of Geraldton, has stalled since Japan’s Mitsubishi – which ended up with sole development rights after buying out financially troubled partners – withdrew from the Oakajee Port and Rail (OPR) project in June 2013. OPR, originally launched by the WA Government in 2009, was planned as an up-to-100 Mtpa export logi
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