Iron ore spot freight rates spike 163% to lift Capesize earnings
As the average length of the journey increases, partly due to port congestions in China, soaking up capacity and pushing up spot rates, shipowners will likely be enjoying high freight rates until the end of the year.
MEMBER SECTION
If you are a member, please login using the orange button at the top of the page to view the full article, or register.
If you are unsure of your membership, or wish to become a member, please contact membership@bimco.org.
Feedback or a question about this information?
Posted:
29 September 2021
BIMCO's Shipping number of the week
- Singapore’s September bunker sales fall to 15-month low
- Us soya bean inspections nearly double week-on-week to 1.6m tonnes
- September crude oil tanker demolishing hits 39-months high at 1.9m DWT
- Iron ore spot freight rates spike 163% to lift Capesize earnings
- Transatlantic container shipping spot rates jump 210% on last year
Latest market analysis
- US trade balance with China improving on higher exports
- Strong domestic demand sees US oil product imports growing
- Tanker shipping - profitability still a way off for loss-making tankers as pandemic drags on
- Macroeconomics - Global recovery threatened by vaccine inequalities and supply chain woes
- Dry bulk - profits surge to multi-year highs as pandemic related demand and disruptions linger
ELSEWHERE ON BIMCO
Contracts & Clauses
All of BIMCO's most widely used contracts and clauses as well as advice on managing charters and business partners.
Learn about your cargo
For general guidance and information on cargo-related queries.
BIMCO Publications
Want to buy or download a BIMCO publication? Use the link to get access to the ballast water management guide, the ship master’s security manual and many other publications.
