Shipping Rates Boosted by Rebuilding in Japan, Lorentzen Says

Bloomberg reports increased imports of iron ore and coal to Japan are boosting shipping rates for dry-bulk vessels.

The market news is quoted as saying,

Hire costs for capesize vessels that move iron ore and coal gained 26 percent since July 1, according to the London-based Baltic Exchange. The exchange provides shipping costs on more than 50 maritime routes.

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