Capesize freight rates rise higher, demand strong
Jul 03, 2020 18:20
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Freight charges for Capesize carriers shipping iron ore from Brazil and Australia to China have risen to a relatively high level, having doubled over the past month mainly because the major iron ore miners are active in shipping their ore, according to market sources on Friday.
As of July 2, the freight charge between Brazil’s Tubarao and China’s Qingdao ports stood at $19.93/tonne, up by a large $11.43/t or 134.4% on month, though down $1.79/t or 8.2% on week. Similarly, freight between Port of Dampier in Western Australia and Qingdao also rallied to $10.42/t by July