BHP expected to catch up on iron ore shipments
According to an Argus Media report, BHP is expected to make up for lost iron ore shipments from Port Hedland for the rest of the year and stay on track to hit its July 2018-June 2019 guidance, following the derailment of one of its trains earlier this month.
The train derailed after leaving without its driver, and subsequently the company was unable to deliver ore from its Pilbara iron ore mines to its port at Port Hedland.
BHP was able to resume partial deliveries on November 10 and has been able to ramp up rail services over the past week despite some safety concerns related to the trains.
Argus reported that BHP's shipping data indicates that its loadings for November 6-19 this year are down by 22% on the same period in October and by 30% on the same period in November last year.
While this may seem like a large fall, it is only over a two-week period and BHP should be able to make up for this over the next six to eight weeks, assuming there are no other technical issues and the weather remains benign, according to analysts.
Continue reading at Argus Media.