Australia's Iron Ore Ports Remain Closed as Cyclone Threatens
Australia's major iron ore export ports in northwest Australia are closed on Monday due to the intensification of Severe Tropical Cyclone Sean.
Key Takeaways:
* Cyclone Sean has strengthened to a Category 3 storm with wind gusts reaching 115 miles per hour.
* The Pilbara Ports Authority has closed Port Hedland, Dampier, Ashburton, Varanus Island, and Cape Preston West.
* These ports handle a significant portion of iron ore exports from BHP Group, Rio Tinto Group, and Fortescue Ltd.
* Liquefied natural gas cargoes from Woodside Energy Group Ltd. and Chevron Corp. are also affected.
* A flood watch has been issued for the Pilbara region, including Port Hedland, and a storm tide is forecast along the coast.
* Australia typically experiences several cyclones annually in the northwest region.