Fenix Resources Expands into Shipping with Mira Bulk Partnership
Australian iron ore producer Fenix Resources has formed a shipping partnership with dry bulk operator Mira Bulk to reduce freight costs and support its production ramp-up.
Partnership Details
The Fenix-Mira Bulk joint venture will give Fenix preferential access to vessels and allow it to share in profits generated by the freight business based on volumes shipped.
Benefits of the Partnership
- Increased shipping market transparency
- Access to more appropriate vessels for Geraldton Port
- Material reduction in Fenix’s overall shipping costs
The partnership has already delivered tangible results, with Mira Bulk supplying the Nord Draco, which loaded 69,125 tonnes of iron ore at Geraldton’s Berth 5, setting a new port record.