Anglo-Australian minerals and mining giant Rio Tinto expressed that the end of China’s Covid controls may cause supply chain disruptions and restrictions in December presumably to bring high volatility in Q2 2023. The world’s largest iron ore producer Rio Tinto miner stated steel demand recovery hinges on China’s ability to control the coronavirus outbreak. According to Rio Tinto, the end of China’s zero-Covid policy in December could increase the risk of supply chain disruptions and labor shortages. 18-January-2023
The world’s largest iron ore producer Rio Tinto has increased the number of 210K DWT LNG-fuelled newcastlemax bulk carrier new buildings it has chartered in from Singapore-based Eastern Pacific Shipping to six (6). The latest deal is an option that Rio Tinto and Eastern Pacific Shipping agreed on under the earlier three (3) LNG-fuelled newcastlemax bulk carrier new buildings. Anglo-Australian minerals and mining giant Rio Tinto has chartered in the LNG-fuelled newcastlemax bulk carriers for at least five (5) years. Singapore-based shipowner and operator Eastern Pacific Shipping is paying approximately $67 million per 210K DWT LNG-fuelled newcastlemax bulk carrier new building. In May 2021, Rio Tinto chartered three (3) similar bulk carriers from Seoul-based H-Line Shipping. Currently, LNG-fuelled newcastlemax bulk carrier newbuilding price climbed to $77 million. Australian mining giant Rio Tinto is studying other alternative fuels such as ammonia and hydrogen to decrease its carbon footprint. The world’s largest iron ore producer Rio Tinto’s long-term goal is to reach net zero-carbon shipping of its outputs by 2050. 4-August-2021
The world’s largest iron ore producer Rio Tinto shipped 76 million tonnes of iron ore in Q2 2021 due to the storms that affected its West Australian operations. Therefore, Australian mining giant Rio Tinto announced that the company foresees to ship near the lower end of its range of 325 million tonnes and 340 million in 2021. Furthermore, Rio Tinto shipped 13 million tonnes of bauxite in Q2 2021 due to the continuous operation weakness following harsh wet weather in Eastern Australia in Q1 2021. Australian mining giant Rio Tinto CEO Jakob Stausholm stated that the world economy recovered steadily. Rio Tinto concentrated on servicing the buyers with as much product as the company can. Rio Tinto encountered some difficulties in the Q2 prominently at Pilbara operations due to tremendous rainfall. Furthermore, corona-virus travel restrictions added an additional burden on Rio Tinto. Iron ore prices climbed to records above $230 per tonne in May 2021 due to the post-corona-virus infrastructure drive by China. China’s steel demand was up 5% year-on-year in Q2 2021. 18-July-2021
Aussie mining giant Rio Tinto has reported that the company has exported 19% more iron ore in Q2 2020 compared to Q1 2020. Rio Tinto exported 87 million tonnes of iron ore in Q2 2020. Rio Tinto exported 73 million tonnes of iron ore in Q1 2020 due to infrastructure damage and significant weather disturbances in February 2020. In Q2 2020, Rio Tinto operations performed well, notwithstanding the severe measures executed to handle the corona pandemic. In Q2 2020, Rio Tinto shipped 14.6 million tonnes of bauxite which is 9% higher than Q2 2019. Up to now, the corona recession has a limited impact on bauxite demand. Rio Tinto presented a strong performance, particularly in iron ore and bauxite business in difficult conditions due to the corona recession. 16-July-2020
Aussie mining giant Rio Tinto’s iron ore exports to China decreased by 16% in Q1 2020 compared to Q4 2019. Rio Tinto’s 2020 full-year predictions of iron ore exports to China still at 334 million metric tonnes. In Q1 2020, China’s iron ore demand increased. In Q1 2020, Rio Tinto exported 73 million metric tonnes of iron ore to China, compared to 87 million metric tonnes of iron ore in Q4 2019. In February 2020, due to tropical cyclone Damian, Rio Tinto’s iron ore exports to China were severely affected however it was recovered in March 2020. Rio Tinto’s iron ore exports to China decreased 16% in Q1 2020 due to seaborne supply interruptions and strong demand from China’s steel mills despite the impact of coronavirus. Aussie mining giant Rio Tinto has also taken advantage of low freight rates in Q1 2020 for iron ore exports to China. In Q1 2020, Rio Tinto produced 13.8 million tonnes of bauxite production which is 8% higher than Q1 2019. China’s bauxite demand increased significantly in Q1 2020, as China’s domestic reserves continue to decrease in quality and quantity due to coronavirus restrictions. Australian giant miner Rio Tinto exported 9.5 million tonnes of bauxite in Q1 2020 which is 7% higher than Q1 2019. According to Rio Tinto’s report, the company will continue to mining and will take all necessary precautions while protecting the health and safety of all employees. 20-April-2020
Australian mining giant Rio Tinto exported 14% less iron ore in Q1 2019 due to a series of cyclones and has decreased the end of 2019 estimations. In March 2019, Rio Tinto reported that iron ore production was affected by cyclones. Furthermore, Rio Tinto’s iron ore production was also impacted by the fire at Cape Lambert A in January 2019. Cape Lambert A is an iron ore terminal with a capacity of loading more than 85 million tons per year. In March 2019, due to cyclones, Port of Port Hedland closed for 92.5 hours, Port of Dampier closed for 132 hours and Port of Ashburton closed for 109 hours. Rio Tinto’s iron ore exports reached 69 million tons in Q1 2019 versus 71 million tons in Q1 2018. These unfortunate events will impact the Australian mining giant Rio Tinto’s Q2 2019 performance and year-end reports. Australian mining giant Rio Tinto decreased 2019 year-end guidance for Pilbara exports to 333 million tons from 350 million tons. According to Rio Tinto, Q1 2019 operational performance is better than Q1 2018. Australian mining giant Rio Tinto aims to continue providing unsurpassed returns to the company’s shareholders in the short, medium, and long term. Rio Tinto completed Amrun bauxite mine in advance and produced 13 million tons of bauxite in Q1 2019. 16-April-2019
Capesize dry bulk carrier 2014 built 186K DWT M/V Cape America chartered out to Rio Tinto for $17,000 per day for 2 years period. 17-April-2017
Greek Golden Flame Shipping chartered out cape size 2010 built dry bulk carrier 180K DWT M/V Samjohn Legacy to Rio Tinto 5 to 8 months for $9,100 per day. Previously, M/V Samjohn Legacy was chartered out to E.ON for the past year at $11,000 per day. 21-August-2016