Baffinland Iron Mines concludes record-setting shipping season with 4.1 million tonnes of iron ore shipped over 75 days

Iron Investing

Baffinland Iron Mines (Baffinland) announced today the conclusion of its 2017 open-water shipping program. From August 2 to October 17, Baffinland shipped approximately 4.1 million tonnes of iron ore from its Milne Inlet Port to markets in Germany, the United Kingdom, and Japan. Fifty-six panamax vessels were deployed, carrying an average of 72,600 tonnes of iron ore each. The …

Baffinland Iron Mines (Baffinland) announced today the conclusion of its 2017 open-water shipping program. From August 2 to October 17, Baffinland shipped approximately 4.1 million tonnes of iron ore from its Milne Inlet Port to markets in Germany, the United Kingdom, and Japan.
Fifty-six panamax vessels were deployed, carrying an average of 72,600 tonnes of iron ore each. The 4.1 million tonnes shipped over 75 days marks the largest shipping program by volume ever executed in the Canadian High Arctic.

Brian Penney, president and chief executive officer of Baffinland said:

“Our record-setting performance was achieved through the hard work and dedication of our employees. I also want to thank all of our partners involved in making this program a success, including our shipping partners, ice management experts, the Canadian Coast Guard, and the continued support of the North Baffin communities, in particular Pond Inlet, and the Qikiqtani Inuit Association.”

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