Rio Tinto Pays Highest Fee This Year to Charter Iron Ore-Carrying Capesize

Bloomberg reports Rio Tinto Group (NYSE:RIO,LSE:RIO,ASX:RIO) paid this year’s highest rent for a capesize vessel to carry iron ore to China from Australia.

The market news is quoted as saying,

Charter rates for the route surged 12 percent to the highest level in almost 10 months as Rio paid $10.30 for each metric ton of ore hauled on a capesize, a booking list published by the Baltic Exchange showed. The Baltic Dry Index, a broader measure of commodity shipping costs, advanced 3.9 percent to 1,682, the highest level since Jan. 4.

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