REPORT EXPECTS SHARP DROP IN WORLD IRON IMPORTS
World seaborne iron ore imports will
fall sharply by the year 2000 with declining imports to the EC
and Japan only partially offset by increased demand from South
East Asia, a report by Ocean Shipping Consultants said.
    The report predicts annual world seaborne iron ore imports
of 267.7 mln tonnes by 2000 versus 312.4 mln tonnes in 1985.
    It estimates that total bulk shipping demand from the iron
ore sector will fall by almost 10 pct, or 200 billion tonne
miles, with shipping demand associated with the coking trade
down about 17 pct or 130 billion tonne miles.
    The report sees EC imports falling to 91.7 mln tonnes in
2000 from 123.6 mln in 1985 with Japanese imports falling to 89
mln from 124.6 mln tonnes. Imports to South East Asia are seen
rising to 58.6 mln from 32.6 mln tonnes in 1985.
    It predicts that EC steel production will fall to 109 mln
tonnes in 2000 from 135.7 mln in 1985 with Japanese production
falling to 92 mln from 105.3 mln.
    South Korea and Taiwan are expected to double their output
to 40 mln tonnes with Chinese production increasing by 25 mln
tonnes to 80 mln, it added.
 Reuter
