Global iron ore exports ease for 2nd straight week amid softer Atlantic shipments

• Australian, South African exports dip, Guinea remains absent
• Brazilian exports rise 10% w-o-w on smooth vessel scheduling

Global seaborne iron ore exports edged down by 0.7% w-o-w to 27.8 million tonnes (mnt) in the week ended 17 July, marking a second consecutive weekly decline. Higher shipments from Brazil, India, Chile, Canada, and Liberia partly cushioned the impact of weaker exports from Peru, South Africa, and Mauritania. Moreover, the absence of cargoes from Guinea and Norway weighed on overall seaborne volumes. Australia, the world’s largest exporter, remained largely steady with only a marginal dip in shipments.

Port & shipper-wise trends

• Australia: Port Hedland handled 10.60 mnt, followed by Port Walcott (3.40 mnt) and Dampier (2.10 mnt). Rio Tinto led shipments at 5.50 mnt, ahead of BHP (5.10 mnt) and FMG (4.00 mnt). China remained the top destination at 13.30 mnt, followed by South Korea (1.00 mnt) and Japan (0.80 mnt).
• Brazil: Ponta da Madeira handled 2.70 mnt, followed by Itaguai (1.60 mnt) and Tubarao (1.50 mnt). Vale shipped 3.30 mnt, while CSN contributed 3.10 mnt. China led imports at 3.70 mnt, ahead of Oman and South Korea (0.20 mnt each).
• Canada: Port Cartier and Sept-Iles handled 0.60 mnt each. AM/NS shipped 0.60 mnt, followed by IOC (0.40 mnt). France, the Netherlands, and Egypt each imported 0.20 mnt.
• South Africa: Saldanha handled 1.00 mnt, while Richards Bay loaded 0.10 mnt. South Korea was the leading destination at 0.30 mnt, followed by the Netherlands (0.20 mnt).
• India: Kandla, Kakinada, Paradip, and Dhamra each handled 0.10 mnt. The UAE, Malaysia and China each imported 0.10 mnt.
• Chile: Totoralillo handled 0.20 mnt, with China taking the entire volume.
• Peru: San Nicolas handled 0.50 mnt, followed by Matarani (0.10 mnt). Shougang Hierro shipped 0.50 mnt, while China imported the full 0.60 mnt.
• Liberia: Buchanan handled 0.20 mnt, with Spain importing 0.10 mnt.
• Mauritania: Nouadhibou handled 0.20 mnt, with China accounting for the full volume.
• Sierra Leone: Freetown handled 0.20 mnt, with China importing the entire volume.
• Sweden: Narvik handled 0.30 mnt. Germany was the leading destination at 0.20 mnt, followed by the Netherlands (0.10 mnt).

Atlantic strength underpins freight

The iron ore freight market remained firm during the week, supported by healthy Atlantic chartering activity, resilient Supramax demand and higher bunker prices. Although Capesize momentum softened toward the end of the week amid slower Pacific cargo enquiries, balanced vessel availability and steady long-haul cargo programmes prevented a broader correction in freights. Owners also remained reluctant to lower offers as elevated fuel costs continued to support voyage economics.

Outlook

Global iron ore exports are expected to remain broadly stable in the coming weeks, with shipment volumes hinging on loading programmes in Australia and Brazil, cargo scheduling across Atlantic exporters, and demand from key Asian buyers. Freights are likely to stay supported as healthy Atlantic cargo activity, balanced vessel supply, and elevated bunker prices continue to underpin the dry bulk market, despite relatively cautious sentiment in the Pacific basin.