A significant panamax charterer and 150 voyages per year could disappear from the market as Chinese steelmaker Ansteel Group considers whether to pull the plug on Australian joint venture Karara Mining.
Karara is one of several smaller Australian operations under threat from low iron ore prices and relatively high production and transport costs. It processes relatively low-grade ore up to export standards and ships it by narrow-gauge rail 200 kilometres (124 miles) to the port of Geraldton on the Western Australian coast.
Chinese
