Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Friday, 7 July 2017

Port Hedland ships half a billion tonnes of iron ore

Record throughput

Truly, an extraordinary story.

Pilbara Ports reported record annual throughput of 668.5 million tonnes (Mt) in the 2017 financial year, for another substantial increase of 6 per cent.

Iron ore exports from Port Hedland were 43Mt in the month of June to rack up an astounding 494.6Mt for the financial year, an annual increase of 9 per cent. 

In short, half a billion tonnes of ore was shipped from the port. 

More than 85 per cent of the iron ore cargo shipped was bound for China, Taiwan, and Hong Kong.

Indeed a look at yesterday's international trade figures underscores this incredible change in Australia's economy in just a decade-and-a-half. 

There's not much else to say but...thank you, China!