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Bloomberg reported iron ore shipping costs plunged 47% in the past year as demand slipped in China.
Bloomberg reported iron ore shipping costs plunged 47% in the past year as demand slipped in China.
As quoted in the market news:
Rates to hire a capesize ship, the largest in the fleet of dry-bulk vessels, dropped 6.1 percent to $14,535 a day, according to the London-based Baltic Exchange. That’s less than half the 2011 high of $32,889 reached on Dec. 12, according to exchange data.