Iron Ore Transshipment Finally Completed - Commodore Research (5/3/12)
Vale’s Philippines floating iron ore transshipment hub, also known as the Ore Fabrica, has successfully completed its first iron ore transshipment. The first smaller Capesize vessel to leave the Ore Fabrica laden with iron ore is the 179,000 dwt Ore Pantanal.
The Ore Pantanal was loaded with iron ore from the Vale Brasil (the first VLOC to arrive at the Ore Fabrica) last week. The Ore Pantanal then set sail to deliver its cargo to buyers in Taiwan. A second VLOC, the Vale China, has also arrived but has not berthed alongside the Ore Fabrica as the Vale Basil has not left yet.
Another capesize vessel, the 300,000 dwt Ore Itaguai, is also still waiting to be loaded with iron ore. In addition, the 207,000 dwt Ocean Creation, which is sailing from Japan, is expected to arrive this week.
Overall, the use of this transshipment hub continues to be beneficial for the capsize market as it helps employ extra capesize vessels. In addition, transshipment is taking much longer than planned. The Ore Fabrica was previously announced as being capable of loading 5,000 tons of iron ore per hour, which would result in 180,000 tons of iron ore from a laden VLOC being loaded into a capesize vessel in about 36 hours.
12 days passed, however, before the Ore Pantanal was loaded with iron ore from the Vale Brasil and able to set sail to deliver the iron ore cargo to buyers in Taiwan.
The Antipodean Mariner