Iron ore talks hit ocean rates

摘要

A CLOSED PORT and ongoing iron ore contract negotiations put ocean charter rates off their peak in January.In mid-December mining giant Vale(formerly CVRD)announced it would suspend iron-ore shipments from Brazil to China after a port was damaged and could not be repaired.At press time,the port will not be able to ship out until some time in February,cutting off 60,000 metric tons of iron ore a day,the company said.