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Bulk rates volatile as spot market ore sales soar
A major charterer has forecast that up to 500m tonnes of iron ore could be sold on the spot market, making it more difficult to predict global dry bulk demand and increasing freight rates volatility, reports Michelle Wiese Bockmann.
Cargill Ocean Transportation's business development manager Tom Beney said that the trading changes would see more “spikes and troughs” in panamax and capesize vessel spot rates.
Cargill transports more than 185m tonnes of dry bulk freight such as...
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