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You are here: Home → Archive → 2009 → June → Weekly Edition 4th of June 2009 → Capesize rally to fizzle as China cuts ore imports

Capesize rally to fizzle as China cuts ore imports

by Tony Gray, London — last modified Jun 05, 2009 03:16 PM

THE RECENT rally in capesize bulk carriers is likely to be short-lived, as China’s iron ore imports decline from a record level, a leading London-based shipbroking house predicted.

Galbraith’s analyst Maria Bitri said China’s first-quarter iron ore imports rose to 131m tonnes from 110m tonnes in the same period of 2008. And in April, China established a new monthly record for iron ore imports, which rose to 57m...

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