FMG 5.53% $20.14 fortescue ltd

cyclone threat

  1. 2,041 Posts.
    lightbulb Created with Sketch. 217

    Australia's Port Hedland Eyes Shut Down on Cyclone Threat


    12/27/2013 | 01:30am US/Eastern
    By Stephen Bell

    PERTH--A key port for exporting iron ore from Australia's Pilbara region expects to start shutting down Saturday as a low-pressure system threatens to develop into a cyclone.

    "Current indications are that Port Hedland will experience gales from late Sunday night," the Port Hedland Port Authority said in a statement Friday.

    "So we will expect to commence port evacuations from Saturday afternoon," it added.

    The low-pressure system, located well to the north of the seaside resort of Broome, is expected to develop into a cyclone Saturday as it moves southwest roughly parallel to the North-West Australian coast.

    It is forecast to intensify over the weekend and approach the resource-rich Pilbara coastal region on Monday, Australia's Bureau of Meteorology said.

    Port Hedland has grown into one of the world's largest iron-ore export terminals in recent years as companies like BHP Billiton Ltd. (>> BHP Billiton Limited), Fortescue Metals Group Ltd. (>> Fortescue Metals Group Limited) and Atlas Iron Ltd. (>> Atlas Iron Limited) expand production to satisfy Chinese demand for the steel-making ingredient.

    "We are watching the development of this weather system very closely and have commenced planning for it," BHP said in a statement.

    "At present, normal work arrangements apply," it added

    Western Australia's cyclone season normally runs from December through March.

    -Write to Stephen Bell at [email protected]
    .....................................................
    http://www.4-traders.com/ATLAS-IRON-LIMITED-6497701/news/Australias-Port-Hedland-Eyes-Shut-Down-on-Cyclone-Threat-17640259/?countview=0
 
watchlist Created with Sketch. Add FMG (ASX) to my watchlist
(20min delay)
Last
$20.14
Change
-1.180(5.53%)
Mkt cap ! $62.01B
Open High Low Value Volume
$20.65 $20.83 $20.02 $262.9M 12.91M

Buyers (Bids)

No. Vol. Price($)
1 1250 $20.14
 

Sellers (Offers)

Price($) Vol. No.
$20.15 2500 1
View Market Depth
Last trade - 16.10pm 25/07/2024 (20 minute delay) ?
FMG (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.