Subscribe to RSS feedSupramax rates fall 20% on Indian ore exports drop
by
Liz McCarthy, London
—
last modified
Feb 09, 2010 09:29 AM
A SLOWDOWN in Chinese demand for Indian iron ore has pushed supramax spot rates down nearly 20% in 10 days as owners drop prices to secure work.
With “hardly any iron ore movement” on the longhaul east coast India-to-China route, activity has slowed and left supramaxes competing for Indonesian coal cargoes or ballasting to other regions to find employment.
“They’re just not exporting the iron ore. Stocks...
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