Iron Ore Ship Rents Climb on Port Congestion, Japan Steel Demand
This article is for subscribers only.
Returns for capesize ships that haul iron ore and coal advanced for a second session, as steel demand from Japan and congestion at ports in China and Brazil bolstered rates.
Daily rents increased 3.3 percent to $25,087, according to the Baltic Exchange, a London-based provider of freight costs on 29 dry-bulk routes. The Baltic Dry Index, a broader measure of commodity shipping costs, gained 0.9 percent to 1,811.