BHP Billiton bypassing shipbrokers

Iron ore mining giant BHP Billiton went direct to shipowners through a new online auction system and bypassing shipbrokers. BHP Billiton’s Freight VP Rashpal Bhatti said the auction was limited to a pool of 13 shipowners and operators like : Japan’s NYK Bulk, Mitsui OSK Lines, Anangel Maritime and Cargill. BHP Billiton first auction was held on January 25, 2017 for 170,000 mtons iron ore from Australia to China. BHP Billiton’s Freight VP Rashpal Bhatti thinks that shipowners benefit from web-based auctioning through not having to pay commissions to shipbrokers.