Chinese iron ore buying frenzy boosts capesize rates
- Wednesday 01 September 2010, 10:44
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- Dry Cargo
THE cost of delivering iron ore by sea had its largest monthly advance since May 2009 after Chinese steel mills increased imports of the raw material used in steelmaking, Bloomberg reports.Charter rates for capesize carriers rose 2.2% yesterday to $34,488 per day, taking their...
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