Vedanta is likely to export a vessel of 90,000 MT low grade iron ore fines to China.
Vessel named “Ocean Garnet” carrying 90,000 MT fines (Fe 57%) is currently at Mormugao port. As per the received details the vessel is under loading currently and will depart for China shortly. The cargo comprises partially of e-auctioned ore and partially of fresh mined ore. The deal was concluded at around USD 31.25/MT, CFR China.
Vedanta is a major iron ore exporter from Goa and has exported 1.14 MnT iron ore in this fiscal (till Jan’16).
Not many iron ore export shipments from Goa are lined up owing to ongoing Chinese Lunar New year holidays. Chinese markets remain closed during these days resulting into limited trading activities. As a result of this, there is not much buying interest from the Chinese steel mills.
Goa iron ore export-Vessel updates
As per cutoms data maintained with SteelMint there are only two vessels of iron ore exports from Goa as of now till 09 Feb’16.
Apart from Vedanta’s iron ore export vessel the other vessel is of VM Salgaonkar. Vesssel named “Jin Hang” carrying 90,600 MT iron ore arrived at berth in Mormugao port on 1 Feb’16.
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