Iron-Ore Shipping Rates May Rise Fourfold This Quarter, DNB Says

Rents for iron-ore carrying Capesize (BCAVRT) ships may rise almost fourfold this quarter as slower speeds and strengthening demand buoy vessel usage, according to DNB Markets, a unit of DNB Bank ASA, Norway’s biggest bank.

Earnings for the vessels may advance to as high as $20,000 a day, DNB shipping analyst Nicolay Dyvik wrote in a report today. The vessels are making $5,233, according to the London- based Baltic Exchange.

To contact the reporter on this story: Alaric Nightingale in London at anightingal1@bloomberg.net

To contact the editor responsible for this story: Stuart Wallace at swallace6@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.