EXPORTS – WESTERN AUSTRALIA

Fortescue tipped to hit export guidance

roymorgansocial Leave a comment

Original article by Tess Ingram
The Australian Financial Review – Page: 27 : 6-Jul-17

Fortescue Metals Group had forecast that it would export about 170 million tonnes of iron ore in 2016-17. Analysts expect its export volumes to be at the higher of its guidance, although its exports for the June quarter will need to be around 44 million tonnes. BHP Billiton’s iron ore shipments for the year are also expected to be at the higher end of its guidance. Meanwhile, Peter O’Connor of Shaw & Partners expects the iron ore price to retreat to around $US50 per tonne in the second half of 2017.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, SHAW AND PARTNERS LIMITED, UBS HOLDINGS PTY LTD, CITIGROUP PTY LTD, CREDIT SUISSE (AUSTRALIA) LIMITED, ROY HILL HOLDINGS PTY LTD

Fast finish for Rio iron exports

roymorgansocial Leave a comment

Original article by Peter Ker
The Australian Financial Review – Page: 13 & 18 : 16-Jan-17

Data from the Port of Dampier shows that Rio Tinto shipped 37.43 million tonnes of iron ore through the port in the December 2016 quarter, compared with 33.93 million tonnes in the September quarter. Glyn Lawcock of UBS says Rio Tinto should meet its revised guidance of between 325 million and 330 million tonnes from the Pilbara for calendar 2016. The group will release its production results for the full year on 17 January 2017, while its financial results will be released on 8 February.

CORPORATES
RIO TINTO LIMITED – ASX RIO, PORT OF DAMPIER, UBS HOLDINGS PTY LTD, WHITEHAVEN COAL LIMITED – ASX WHC, HANCOCK PROSPECTING PTY LTD, SINOSTEEL CORPORATION, FORTESCUE METALS GROUP LIMITED – ASX FMG, BHP BILLITON LIMITED – ASX BHP, ATLAS IRON LIMITED – ASX AGO, BC IRON LIMITED – ASX BCI, MINERAL RESOURCES LIMITED – ASX MIN, ST BARBARA LIMITED – ASX SBM, NEWCREST MINING LIMITED – ASX NCM, ROY HILL HOLDINGS PTY LTD, WOODSIDE PETROLEUM LIMITED – ASX WPL, AUSTRALIA. DEPT OF THE TREASURY

Iron ore exporters unlikely to meet shipment guidance

roymorgansocial Leave a comment

Original article by David Stringer
The Australian Financial Review – Page: 24 : 6-Oct-16

Macquarie Group forecasts that Rio Tinto’s Western Australian iron ore shipments for 2016 will fall slightly short of its guidance for 330 million tonnes. Macquarie also says BHP Billiton also may not meet its production guidance. Macquarie had forecast that shipments from the state’s major iron ore export terminals would total 216 million tonnes in the September quarter, but new data shows that about 209 million tonnes were shipped.

CORPORATES
RIO TINTO LIMITED – ASX RIO, BHP BILLITON LIMITED – ASX BHP, FORTESCUE METALS GROUP LIMITED – ASX FMG, MACQUARIE GROUP LIMITED – ASX MQG, ROY HILL HOLDINGS PTY LTD, VALE SA, METAL BULLETIN LIMITED, CITIGROUP PTY LTD, MORGAN STANLEY AUSTRALIA LIMITED, DBS GROUP HOLDINGS LIMITED, BLOOMBERG LP

BHP set to miss iron ore target as tough year continues

roymorgansocial Leave a comment

Original article by Peter Ker
The Australian Financial Review – Page: 15 & 20 : 15-Jul-16

In April 2016, BHP Billiton scaled back its forecast for iron ore shipments from Western Australia in 2015-16 to 260 million tonnes, compared with original guidance of 270 million. However, BHP may have failed to achieve its revised target. Iron ore shipments from Port Hedland for the financial year totalled 454.2 million tonnes, with rival producers estimated to have accounted for about 196 million tonnes. This would suggest that BHP’s share of iron ore shipments was around 258 million tonnes.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, FORTESCUE METALS GROUP LIMITED – ASX FMG, ROY HILL HOLDINGS PTY LTD, ATLAS IRON LIMITED – ASX AGO, MINERAL RESOURCES LIMITED – ASX MIN, UBS HOLDINGS PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG, SAMARCO MINERACAO SA, RIO TINTO LIMITED – ASX RIO

Roy Hill’s ramp-up puts pedal to the metal for Port Hedland

roymorgansocial Leave a comment

Original article by Peter Ker, Tess Ingram
The Australian Financial Review – Page: 13 : 12-Jul-16

The Roy Hill iron ore project has progressively increased the number of monthly shipments since exports began in December 2015. A spokesman for Roy Hill Holdings says 12 ships were loaded in June 2016, and the project is on track to reach full production of 55 million tonnes a year by the end of 2016. However, Macquarie Group forecast earlier in the year that the Roy Hill project will fall short of its production target, noting that achieving full production often takes a new project several years.

CORPORATES
ROY HILL HOLDINGS PTY LTD, HANCOCK PROSPECTING PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG, POSCO, MARUBENI CORPORATION, CHINA STEEL CORPORATION, SAMSUNG C&T CORPORATION, DURO FELGUERA SA, BHP BILLITON LIMITED – ASX BHP, FORTESCUE METALS GROUP LIMITED – ASX FMG, ATLAS IRON LIMITED – ASX AGO

Roy Hill iron bound for China

roymorgansocial Leave a comment

Original article by Glenda Korporaal
The Australian – Page: 20 : 31-Mar-16

Chinese steelmaker Shougang International will shortly receive its inaugural shipment of iron ore from the Roy Hill project in Western Australia. The first shipment to China is scheduled to arrive at the port of Caofeidian in early April 2016. The Gina Rinehart-backed Roy Hill commenced exports in late 2015, and it is eventually slated to produce 55 million tonnes per annum.

CORPORATES
ROY HILL HOLDINGS PTY LTD, SHOUGANG GROUP, POSCO, ASIAN INFRASTRUCTURE INVESTMENT BANK, HANCOCK PROSPECTING PTY LTD, MARUBENI CORPORATION, CHINA STEEL CORPORATION

Gorgon’s maiden gas shipment

roymorgansocial Leave a comment

Original article by Paul Garvey
The Australian – Page: 20 : 22-Mar-16

Bulk cargo carrier "Asia Excellence" has left Australia with the first shipment of LNG from Chevron’s $A55bn Gorgon project. The joint venture project was originally slated to cost $US37bn, but was beset by cost over-runs and construction delays. The first of three processing lines has been completed, with the other two trains slated to commence production in the next 12 months. The inaugural shipment comprises 160,000 cubic metres of LNG and will be delivered to buyers in Japan.

CORPORATES
CHEVRON CORPORATION, CHEVRON AUSTRALIA PTY LTD, GORGON JOINT VENTURE, EXXONMOBIL CORPORATION, ROYAL DUTCH SHELL PLC, OSAKA GAS COMPANY, TOKYO GAS COMPANY LIMITED, CHUBU ELECTRIC POWER COMPANY INCORPORATED, WOOD MACKENZIE

Firing up: Chevron ready to ship first Gorgon gas cargo to Asia next week

roymorgansocial Leave a comment

Original article by Andrew Burrell, Paul Garvey
The Australian – Page: 19 & 20 : 9-Mar-16

Production of LNG condensate has commenced at the Gorgon project in Western Australia, and project operator Chevron has advised that exports to customers in Asia will begin in mid-March 2016. It is estimated that the $US54bn ($A72.6bn) project will contribute some $A440bn to national GDP over the next three decades, while the Federal Government will receive about $A69bn in tax revenue from the project. The Gorgon project was beset by delays and cost over-runs.

CORPORATES
CHEVRON CORPORATION, GORGON JOINT VENTURE, EXXONMOBIL CORPORATION, ROYAL DUTCH SHELL PLC, OSAKA GAS COMPANY, TOKYO GAS COMPANY LIMITED, CHUBU ELECTRIC POWER COMPANY INCORPORATED, CHEVRON AUSTRALIA PTY LTD, ACIL ALLEN CONSULTING PTY LTD, WESTERN AUSTRALIA. DEPT OF THE PREMIER AND CABINET, AUSTRALIAN LABOR PARTY

Rinehart dreams, rival falters

roymorgansocial Leave a comment

Original article by Peter Ker, Julie-anne Sprague
The Age – Page: 23 : 11-Dec-15

Bulk carrier "MV Anangel Explorer" departed Port Hedland with the first shipment of iron ore from Gina Rinehart’s Roy Hill project on 10 December 2015. Despite the downturn in the iron price, Roy Hill CEO Barry Fitzgerald is confident that the $A10bn project will be profitable, while executive director Tad Watroba notes that the bulk of its output will be sold via supply contacts rather than on the spot market. Meanwhile, BC Iron has advised that a review of its Nullagine iron ore mine will have no impact on its other mines.

CORPORATES
ROY HILL IRON ORE PTY LTD, HANCOCK PROSPECTING PTY LTD, BC IRON LIMITED – ASX BCI, FORTESCUE METALS GROUP LIMITED – ASX FMG, SHAW AND PARTNERS LIMITED, POSCO, MARUBENI CORPORATION, CHINA STEEL CORPORATION, UBS HOLDINGS PTY LTD

On eve of triumph, Rinehart lashes out at sceptics

roymorgansocial Leave a comment

Original article by Julie-anne Sprague
The Australian Financial Review – Page: 3 : 10-Dec-15

Bulk carrier "MV Anangel Explorer" is scheduled to leave Port Hedland with the first shipment from the Roy Hill iron ore project on 10 December 2015. Exports had initially been slated to commence by the end of the third quarter, and mining magnate Gina Rinehart has criticised the media for unduly focusing on the delays at Roy Hill rather than the project’s achievements. Rinehart’s Hancock Prospecting holds a 70 per cent stake in the project.

CORPORATES
ROY HILL IRON ORE PTY LTD, HANCOCK PROSPECTING PTY LTD, CITIGROUP PTY LTD, MERRILL LYNCH (AUSTRALIA) PTY LTD, SAMSUNG C&T CORPORATION, POSCO, MARUBENI CORPORATION, CHINA STEEL CORPORATION