Platts declared that Capesize iron ore freight rates have maintained their upward momentum over the last week, receiving additional support from ship operators taking ships on long-term time charters in addition to ongoing chartering activity by iron ore producers and traders on cargoes destined for China. For full story, click here
India’s iron ore exports dipped 12% year-on-year in March, interrupting the trend of surging sales in the previous three months, as expensive rail freight takes its toll on shipments from Karnataka and eastern India, say leading mining companies. Federation of Indian Mining Industry president Rahul Baldota, stated: The Chinese government, in the past few months, [...]
Indian iron ore prices surged in the past few days, lifted by demand from buyers in China who are looking to save money on increasing freight costs by booking material from nearby suppliers. For full story, click here
A third month of record Chinese iron ore imports seems to add to evidence from a surging manufacturing index, rebounding steel prices and a spike in freight rates that China is back as the main driver for a commodities rally. For full story, click here
BHP Billiton declared to have arranged freight for a total of 2.2 million tonnes of iron ore between Port Hedland and Qingdao in 13 Capesize ships in the space of a week. It fixed 12 ships, each to carry 170,000 million tonnes cargoes and one ship to lift a 160,000 million tonnes stem. For full [...]
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