China's steel driving high freight rates, now takes record ship fixture

摘要

Simpson Spence & Young reported an all-time high vessel fixture on Thursday last week, according to cape broker Stuart Cerne. The capesize vessel, carrying iron ore from Brazil to China to feed the latter's voracious appetite for steel raw materials, was fixed at 20 dollars/mt and chartered by China's BMM. At 20 dollars/mt, that works out at to roughly 45,000 dollars a day, he said. The "spectacular" fixture has only bolstered an already firm freight market that has been "going up quite quickly this week."