Lloyd's List Daily Commercial News | 08 January 2007 |
TFS Freight director Nick van der Hoeven today (Monday, January 8) described the deal as “significant” for the two-year-old Australian section of his firm. The 940,000 tonnes of iron ore, split roughly between the bulker companies, will be shipped between February 15 and September 30 for an undisclosed sum. Loads will be taken from the port of Caleta, near Caldera, which can handle smaller handymax ships, in a US$45m-US$65m deal with Wuhan Iron and Steel with an option to extend. Admiralty also said last week its 50-50 joint venture with US miner Windham Exploration, Compania Minera Santa Barbara, had placed a $562,000 bond with the Chilean government to build a $22m capsize-capable port at Punta Alcalde in Huasco Bay, 60km from its Japonesa mine. Mr van der Hoeven, who has a logistics background and shipowning experience with Pacific Carriers, also advised on the port deal. Including shoreside infrastructure and roads, the project is valued at US$30m, with completion set for January 2009. Admiralty managing director Phillip Thomas said the partners had been in talks with three US and Chinese firms to build the port but there were “plenty of options”. Neither men would discuss details of the shipping contract. TFS Freight is a division of finance company Compagnie Financire Tradition's subsidiary, Tradition Financial Services (TFS). TFS began dry bulk brokerage operations in Stamford last July, joining the existing TFS physical and FFA desks in Perth and Melbourne. Admiralty retained the consultancy, its first, in mid-November. Mr van der Hoeven said TFS Freight aims to help Australian miners take control of and profit from the shipping of their product.
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