Original article by Matthew Stevens
The Australian Financial Review – Page: 30 : 20-Jun-19
The sulphur emissions of shipping fleets must be reduced by 80 per cent under the International Maritime Organisation’s rules that take effect on 1 January. BHP expects the new rules to give Australian iron ore producers a competitive advantage over their Brazilian rivals. It estimates that the cost of retro-fitting bulk cargo ships and higher fuel costs will increase the cost of shipping iron ore from the Pilbara to China by $US2-$US3 per tonne. In contrast, BHP expects Brazilian miners to incur increased costs of between $US3 to $US5 a tonne.
BHP GROUP LIMITED – ASX BHP, INTERNATIONAL MARITIME ORGANISATION, VALE SA, WOODSIDE PETROLEUM LIMITED – ASX WPL, WOOD MACKENZIE