Vedanta is about to export its 2nd iron ore vessel for this month. The vessel named “Indus Prosperity” was seen at anchorage in Mormugao Port on 17 Feb’16. This vessel carrying fines (Fe 57%) would be exported to China.
Prior to this the company has exported 90,000 MT iron ore to China towards the beginning of this month via vessel named “Ocean Garnet”.
As per sources another iron ore export vessel of Vedanta is in pipeline for the month of Feb’16. Vessel named “Earnest Sky” carrying another 85,000 MT fines will be exported to China in this very month itself.
Prices of fines (Fe 57%) of Indian origin are currently at USD 37/MT, CFR China.
Iron ore exports from Goa likely to remain low in Feb’16
Iron ore export from Goa were recorded at 0.75 MnT in Jan’16. In this month, Goan iron ore export are likely to remain less on a monthly basis. In Feb’16, Goa iron ore export have been recorded at 0.18 MnT till date. Apart from this there are two iron ore export vessels in pipeline for this month which will add 0.17 MnT.
Status of Goa iron ore export vessels in Feb’16
|
Date |
Shipper | Vessel | Qty | Loading
Port |
Destination | Status |
| Name | ||||||
| 1-Feb-16 | VM Salgaonkar | Jin Hang | 90,600 | Mormugao | China | Berth |
| 5-Feb-16 | Vedanta | Ocean Garnet | 90,000 | Berth | ||
| 17-Feb-16 | Vedanta | Indus Prosperity | 85,000 | Anchorage | ||
| N/A | Vedanta | Earnest Sky | 85,000 | Expected |
Qty in MT
Updated till data received till date
Provisional data
Source: SteelMint Research, Customs
The reason behind fall in export this month was the week long Chinese Lunar New year holiday which kept majority of markets closed for around a week.
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