TRADE AND COMMODITIES

Shipping companies eye iron ore swap contracts

SHIPOWNERS are expected to embrace a new cleared, over-the-counter iron ore swap contract, to be launched this month in London by freight derivatives broker Freight Investor Services.

Unbelievable’ charter rises from ore frenzy

CHARTER rates soared last week as the ‘big three’ iron ore producers dominated capesize fixing activity, while port congestion, particularly in northern China, reduced the number of ships available.

March trade surplus ‘a corker’

AUSTRALIA exported more goods and services than it imported in March, latest government figures show.

Vale buys more bulkers to feed China demand

VALE, the world’s largest iron ore exporter, is looking to buy more capesize bulk carriers as it plans to boost sales of iron ore to China by 30%.