Pilbara, Australia, LNG and Iron Ore Ports Shut in Anticipation of Major Storms, an Industrial Info Market Brief

The Pilbara region of Western Australia is bracing for Cyclone Veronica, a Category 4 storm that will hit this weekend. Tankers have been moved out, and the major iron ore and liquefied natural gas (LNG) ports at Hedland and Dampier were closed. It is estimated that a five-day shutdown would impact 10 million tons of iron ore shipments predominantly bound for Asia. Australia is responsible for about 55% of the seaborne iron ore trade. There are 28 iron ore mines in addition to 106 other operational mines in Western Australia, according to Industrial Info's Global Market Intelligence Platform. A separate storm, Cyclone Trevor, was bearing down on the Northern Territory, closing ports at Weipa, Gove and Groote Eylandt.