SHIPMENTS FROM PORT HEDLAND HITS A RECORD

Iron ore cargoes from Australia’s Port Hedland climbed  in December a record year as billionaire Gina Rinehart’s Roy Hill project began overseas sales, joining miners shipping greater volumes into a global market that’s facing oversupply and sinking prices.

Total shipments were 37.55 million metric tons from 37.33 million tons in November and 37.12 million tons a year ago, according to data from the Pilbara Ports Authority on Wednesday. Exports to China were 32.17 million tons from 31.73 million the previous month and 30.63 million a year earlier.