TRADE AND COMMODITIES

Capesizes above US$100,000 as rates double in two weeks

RATES for a capesize vessel broke the US$100,000 per day barrier last week, with Italian trader Coeclerici one of a raft of charterers paying a six-figure sum to secure tonnage in the Atlantic basin.

Newcastle coal exports on rise

COAL exports from the port of Newcastle continue to rise while the number of ships waiting to load coal has also increased.

CRT transport deal

CRT Group, a unit of Queensland Rail Ltd, has secured a contract to supply bulk transport and logistics services to Sugar Australia.

ACCC okay on grain deal

 

Cheap iron ore to China the key to dry bulk rates

THE DRY bulk boom, particularly for capesize bulk carriers, will continue only if the cost, insurance and freight rate for iron ore from Australia to China remains below US$70 per tonne, a leading commodities executive said last week.