Strengthening China Coal Demand Lifts Largest Shipping Costs
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Strengthening Chinese demand for power station coal helped bolster charter rates for capesize vessels that can carry the fuel.
Charter rates for the vessels, which also transport iron ore, rose 2 percent to $10,453 a day, according to the Baltic Exchange in London. That was the biggest gain of the four vessel sizes tracked by the bourse’s Baltic Dry Index, which fell 0.2 percent to 1,406 points. Coal used by power stations is also called thermal coal.