Shipping Rates for Coal Cargoes to Japan Seen Rising 55%

Bloomberg reported that rates for coal carriers are set to rise significantly.

The market news is quoted as saying:

Forward freight agreements, traded by brokers and used to hedge or bet on future transport costs, will rise to $22,000 a day for the fourth quarter, from $14,200 today, said Philippe van den Abeele, the managing director of Castalia Fund Management (U.K.) Ltd.

To read the full market news, click here.