Subscribe to RSS feedChina congestion is pushing up rates
by
Liz McCarthy, London
—
last modified
Nov 13, 2009 09:22 AM
CAPESIZE rates are expected to continue climbing into December as the number of vessels available in the spot market shrinks due to congestion levels rising again at loading and discharge ports.
Charterers have ramped up iron ore shipments this month, and this is expected to lead to capesize delays at China’s major iron ore ports. BHP Billiton, the world’s third-largest producer, increased spot iron ore shipments from Port Hedland in Australia...
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