FMG - Fortescue Ltd

[Value Collector]

Ooops, forgot to attach this screen shot to my last post @sptrawler

 

[Value Collector]

Ooops, forgot to attach this screen shot to my last post @sptrawler

View attachment 184266

 

[basilio]

Ooops, forgot to attach this screen shot to my last post @sptrawler

View attachment 184266

I'm wondering if the Iron Bridge concentratae is included in the total iron ore shipments ? Or a separate item ?

 

[TimeISmoney]

I'm wondering if the Iron Bridge concentratae is included in the total iron ore shipments ? Or a separate item ?

The licenced capacity at Herb Eliot Port for FMG is 210 MTPA

 

[basilio]

The licenced capacity at Herb Eliot Port for FMG is 210 MTPA

That is significant isn't it ? Seems to put an upper limit on iron ore exports very close to current output. Still be interesting know if the Iron Bridge exports are included in the overall guidance. It could be as low as 190 tones all up or 209 tons if they are separate figures.

 

[TimeISmoney]

That is significant isn't it ? Seems to put an upper limit on iron ore exports very close to current output. Still be interesting know if the Iron Bridge exports are included in the overall guidance. It could be as low as 190 tones all up or 209 tons if they are separate figures.

I'd say it would be inclusive because they can't export over that amount and it's all ending up in Port Hedland.

 

[Value Collector]

I'm wondering if the Iron Bridge concentratae is included in the total iron ore shipments ? Or a separate item ?

Yep, it’ is.

So the Iron Bridge concentrate is higher cost per tonne than the regular direct shipping ore, however it also sells at a higher price.

Where their direct shipping Ore sells at about a 15% discount to stated Iron Ore bench mark price, the Iron Bridge product sells at a 15% - 20% premium.

So due to the premium more than offsetting the higher costs, and the smaller volumes, I just ignore it and treat it all as direct shipping Ore in my calculation.

 

[Value Collector]

That is significant isn't it ? Seems to put an upper limit on iron ore exports very close to current output. Still be interesting know if the Iron Bridge exports are included in the overall guidance. It could be as low as 190 tones all up or 209 tons if they are separate figures.

FMG’s production guidance includes their share of the Iron Bridge output (61%), but not the 31% owned by their partner in the project Formosa.

The 31% owned by Formosa, isn’t in FMG’s guidance, however it does move through FMG’s port and FMG does earn a handling fee on it.

I am unsure if the Formosa portion of the ore is exported using FMG’s licence or their own, but either way as FMG has raised production over time they haven’t had any trouble raising their export capacity licence. I think the real bottle neck would be how many ships they can physically load each year. The have 5 berths to park ships, and 3 ship loaders moving between them,

In a perfect world of zero down time, the ship loaders would be able load 260 Million tonnes a year, but in practice with actual maintenance down time and shift changes and cyclones etc, I don’t know how much the actual maximum export rate is of the port.

 

[Value Collector]

@basilio @TimeISmoney

Here is some photos of FMGs port.

In the first photo you can see 5 ships parked, arrows point to the ship loaders that roll on tracks up and down beside the ships. The two ships on the left side of the port are serviced by one ship loader, and the three ships on the right are serviced by two loaders.

In the second photo you can see I zoomed in on one of the ship loaders that is loading a ship.

The third and forth photo show a different angle of the port and ship loader.

 

[Value Collector]

Here is a video on a ship loader operating during the offical opening of the third berth.