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WA Iron Ore Exports Tumble.; Chinese Demand Plunges.
Topic Started: 7 Oct 2014, 07:30 PM (6,827 Views)
Perthite
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How about that 'R' word... we going there?

http://www.reuters.com/article/2014/10/07/ironore-australia-pilbara-idUSL3N0S21DM20141007
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Mike
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Perthite
7 Oct 2014, 07:30 PM
So in September 2013 the exports of Iron Ore were almost 23 million tons, in September 2014 the exports have increased to almost 30 million tons. You do understand that even with the decline from August that it is still an increase of 7 million tons or roughly 25% in just one year. Until the decline from August exports were up almost 10 million tons over the same period last year.

Thats a problem any business would love to have, increasing sales by 25% in what many consider a tough market. You still dont get it do you, in time you will work it out or when it hits you square in the face.
http://mike-globaleconomy.blogspot.com.au/
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Perthite
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In that time WA growth was piss poor.

Shows how badly the rest of the state was doing. Say goodbye to the smokescreen.
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DumbBlondieGirl
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Mike
7 Oct 2014, 07:37 PM
So in September 2013 the exports of Iron Ore were almost 23 million tons, in September 2014 the exports have increased to almost 30 million tons. You do understand that even with the decline from August that it is still an increase of 7 million tons or roughly 25% in just one year. Until the decline from August exports were up almost 10 million tons over the same period last year.

Thats a problem any business would love to have, increasing sales by 25% in what many consider a tough market. You still dont get it do you, in time you will work it out or when it hits you square in the face.
:bl: is this a pisstake?............id rather sell 23 at $130 than 30 at $80
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Perthite
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DumbBlondieGirl
7 Oct 2014, 07:43 PM
:bl: is this a pisstake?............id rather sell 23 at $130 than 30 at $80
Money does not matter just GDP... :lol
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herbie
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... "Vale's decision of constructing a fleet of 400,000-ton ore carriers has been widely criticized by other shipping companies. The new Valemax ships, expected to cut the company's transportation costs by 20–25%, are blamed for driving down the freight rates for the entire industry, swelling the already oversupplied bulk transportation market and stalling the recovery of the shipping business after the financial crisis.

The freight rates, down 80% from 2008, are expected to drop further down to the levels of 1977. According to the chief executive of BIMCO, the Valemax vessels could displace up to 168 150,000–180,000-ton capesize bulk carriers, around 15% of the existing fleet, from the long haul voyages and force them to less profitable shorter routes. Vale has responded to the criticism by stating that the company aims to permanently cut the costs of Atlantic-Pacific dry bulk shipping to make Brazilian ore more competitive against iron ore produced in Australia, which is closer to major customers in Asia.

Vale has also faced opposition from the China Shipowners' Association which claim that the Brazilian mining company is seeking to control the freight market as it has already done with the iron ore prices. In the past the Chinese ports were not allowed to increase their capacity to more than 300,000 tons for dry bulk carriers due to safety and environmental concerns, and if the 400,000-ton Valemax vessels are allowed to Chinese ports, Vale's monopoly on the route may result in losses for other shipping companies operating capesize ore carriers. Also, when Vale Brasil was diverted to Italy on her maiden voyage, there was speculation that the domestic steel industry of China had urged the authorities to protect their commercial interests. However, Vale has also received support from the Chinese steel companies as they would benefit from lower transportation costs.

As a precaution against prolonged ban of Valemax vessels from the Chinese ports, Vale started constructing both land- and offshore-based transshipment hubs where iron ore can be loaded to smaller ships for final delivery." (bold mine) ...

http://en.wikipedia.org/wiki/Valemax

And BHP is gunna cut costs:

https://www.businessspectator.com.au/article/2014/10/6/resources-and-energy/bhps-robot-army-will-cut-costs

Oh well, there goes a few more highish paid (Aussie/Perth) jobs.

And to add to our 'joy', I saw something just today as I recall(?) about some super fund dumping coal from their books due to their perceived risk of the high risk of it being perceived as dirty/naughty given Kev Rudd's Greatest Threat To Humankind In The Last Million Years or whatever it was, type concern. (Tho' can't be bothered sourcing the link.)

Edited by herbie, 7 Oct 2014, 08:54 PM.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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Perthite
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A few?

sheesh.

Ohh dear the death of the cashed up bogan.
Edited by Perthite, 7 Oct 2014, 08:19 PM.
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DumbBlondieGirl
7 Oct 2014, 07:43 PM
:bl: is this a pisstake?............id rather sell 23 at $130 than 30 at $80
Wrong.

You would rather sell 30 at $80 than 23 at $80. You don't get the choice to sell it at $130.
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Perthite
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Guest
7 Oct 2014, 08:20 PM
Wrong.

You would rather sell 30 at $80 than 23 at $80. You don't get the choice to sell it at $130.
You just get the fact that it was.

Get used to the new reality. The boom ended in all forms.
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herbie
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Guest
7 Oct 2014, 08:20 PM
Wrong.

You would rather sell 30 at $80 than 23 at $80. You don't get the choice to sell it at $130.
As a LL I can relate to THAT! :)

Hey, just maybe flogging iron ore to the world isn't TOO fundamentally diff to flogging rental digs ta tenants maybe??? LOL!
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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