Australian miner Roy Hill said Tuesday the first vessel has docked at its newly completed South West Creek Wharf in Port Hedland in readiness for loading iron ore fines and lump from its new mining operation.
The vessel MV Anangel Explorer arrived at the port late Monday, a company spokesman said.
Further details will not be disclosed until time of shipping, he said.
The 171,926-dwt Capesize vessel was heard to have been put on the shipping market with Roy Hill as the ship charterer and fixed basis loading at Port Hedland for discharge at North China's Qingdao on voyage rates, a shipping source said. The rate and discharge port could not be confirmed.
A Roy Hill source in September had said the first shipment of Roy Hill iron ore would be delivered to South Korean steelmaker Posco and comprise fines and lump. Posco officials could not be reached for comment Tuesday.
A Chinese source with knowledge of the matter also confirmed the cargo will deliver to Posco.
This source, who has a contractual agreement with Roy Hill, said: "We have not received any notice from the miner when the first shipment will arrive in China. I think it will be delayed to next year."
Roy Hill in October had said it would ship its first iron ore cargo in November. This came after earlier media reports had said it would ship its first cargo by October after postponing its original September plan due to construction delays.
Roy Hill, 70% owned by Hancock Prospecting with the balance shared by South Korea's Posco, Japan's Marubeni Corporation and Taiwan's China Steel Corp., plans to produce 35 million mt/year of iron ore in 2016 and 45 million mt/year in 2017 before ramping up to full capacity of 55 million mt/year in 2018.
Posco, Marubeni and China Steel will take 50% of the eventual 55 million mt/year output, with Chinese steel mills taking most of the balance.
The sale of iron ore fines from the Roy Hill project will be based on Platts 62%-Fe IODEX assessments and lump products based on Platts weekly lump premium assessments in contractual agreements with its customers.
