Australia has maintained its leading position in the seaborne iron ore trade, as over half of the global iron ore exports are coming from it. In its latest weekly report, shipbroker Banchero Costa said that “2024 was another positive year for global seaborne iron ore trade. In Jan-Dec 2024, global loadings of iron ore increased by +2.3% y-o-y to 1,669.2 mln tonnes, based on AXS Marine vessel tracking data. 2025 began in a very disappointing way, but has since recovered, with export volumes up by +0.3% y-o-y in Jan-Sep 2025 to 1,249.0 mln tonnes. Exports from Australia declined in Jan-Sep 2025 by -0.1% y-o-y to 690.4 mln tonnes. From Brazil, exports increased by +3.4% y-o-y in Jan-Sep 2025 to 291.0 mln t. From Canada there was a +1.4% y-oy increase to 45.5 mln tonnes. From South Africa volumes increased +7.2% y-o-y to 42.6 mln t. India saw a correction of -33.8% y-oy in Jan-Sep 2025 to 20.0 mln t. From Norway exports rebounded by +28.2% y-o-y to 15.5 mln t”.
According to Banchero Costa, “demand is still driven primarily by Mainland China, which accounts for 74% of imports. Iron ore imports into China decreased by -2.2% y-o-y in Jan-Sep 2025 to 906.0 mln tonnes. Imports into Japan declined by -3.7% y-o-y to 66.1 mln t. To the EU, imports increased by +2.9% y-o-y to 55.8 mln t. Volumes into South Korea declined by -3.7% y-o-y to 51.2 mln t. Imports into Malaysia increased by +6.6% y-o-y to 18.6 mln tonnes. To Vietnam volumes were up by +1.4% y-o-y to 16.2 mln t. To Oman, volumes were up +3.0% yo-y to 10.7 mln t, to Saudi Arabia down by -4.2% y-o-y to 8.5 mln t, to Bahrain -8.2% y-o-y to 9.2 mln t”.
The shipbroker said that “Australia is by far the world’s largest exporter of iron ore, with a 55.3% market share in Jan-Sep 2025, well ahead of Brazil’s 23.3%, Canada’s 3.6%, and South Africa’s 3.4%. Export volumes from Australia have been relatively stable in recent years, with moderate increases. In 2020, iron ore exports from Australia surged by +4.1% y-o-y to 903.0 mln tonnes. This was followed by a -0.3% y-o-y decline in 2021 to 900.0 mln t, then a +0.8% y-o-y increase in 2022 to 907.2 mln t, a +0.9% y-o-y increase in 2023 to 915.5 mln t, a +1.3% y-o-y increase in 2024 to 927.4 mln t. In Jan-Sep 2025, shipments from Australia declined by -0.1% y-o-y to 690.4 mln t, from 691.4 mln t in the same period of 2024. The main iron ore export terminals in Australia are: Port Hedland (412.4 mln t loaded in Jan-Sep 2025), Port Walcott (121.9 mln t), Dampier (106.7 mln t), Onslow (17.7 mln t), Cape Preston (10.0 mln t), Geraldton (9.8 mln t), Whyalla (4.6 mln t), Esperance (1.8 mln t), Koolan Island (1.8 mln t)”.
“The vast majority (77.3% in Jan-Sep 2025) of iron ore volumes from Australia are loaded on Capesize and Newcastlemax vessels (i.e. vessels in the 120-220k dwt range), with 16.0% on VLOCs, 4.7% on Post-Panamaxes, and 1.5% on Kamsarmaxes. Mainland China is by far the top iron ore importer from Australia, with a 84.2% share of shipments from Australian ports in Jan-Sep 2025. Exports to Mainland China from Australia increased by +0.1% y-o-y to 581.1 mln t in Jan-Sep 2025, from 580.7 mln tonnes in Jan-Sep 2024. The second largest destination for Australian ore is South Korea, with a 5.5% share in 2025. Shipments from Australia to South Korea declined by -3.3% y-o-y to 38.0 mln t in Jan-Sep 2025, from 39.3 mln t in Jan-Sep 2024. Export to Japan declined by -5.8% yo-y to 37.1 mln t in Jan-Sep 2025. Volumes from Australia to Taiwan declined by -5.9% y-o-y to 10.0 mln tonnes in Jan-Sep 2025. To Vietnam volumes of Australian iron ore declined by -6.9% y-o-y to 9.1 mln tonnes in Jan-Sep 2025”, Banchero Costa concluded.
Source: Hellenic Shipping News Worldwide
