Seeking Alpha

BHP says tugboat strike could cost iron ore exporters $100M/day in lost sales

  • BHP Billiton (BHP +1.6%) says potential strike action by tugboat workers at Australia's Port Hedland would cost iron ore exporters A$100M/day (US$94M) in lost sales.
  • The warning follows a strike vote by the Maritime Union of Australia after an agreement couldn't be reached with employers over a new pay deal.
  • Port Hedland, in the Pilbara region of northwest Australia, has grown into one of the world's largest iron ore export terminals in recent years; it exported 34.8M metric tons last month, a 33% Y/Y increase.
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector

Next headline on your portfolio: