Iron Ore Ship Rents Climb on Port Congestion, Japan Steel Demand

Bloomberg reported returns for capesize ships that haul iron ore and coal advanced for a second session, with increased demand from Japan.

The market news is quoted as saying,

Daily rents increased 3.3 percent to $25,087, according to the Baltic Exchange, a London-based provider of freight costs on 29 dry-bulk routes. The Baltic Dry Index, a broader measure of commodity shipping costs, gained 0.9 percent to 1,811.

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