I found the article above that discusses the current conflict between China and Australia concerning iron ore negotiations is leading to increased business for the Brazilian companies. Iron ore carrying dry bulk ships from Australia to China have fallen from an average of 40 to just 10. In response, shipments from Brazil are at record numbers.
The longer voyages from Brazil to China will be a benefit to the Capesize shippers. Also, noted is that spot prices for iron ore have reached new highs for the year. China uses half of the world’s iron ore and have increased their purchases by almost 30% this year.
Some interesting news for long distance ore shippers
http://en.mercopress.com/2009/07/23/australias-conflict-with-china-favours-brazilian-iron-ore-sales
I found the article above that discusses the current conflict between China and Australia concerning iron ore negotiations is leading to increased business for the Brazilian companies. Iron ore carrying dry bulk ships from Australia to China have fallen from an average of 40 to just 10. In response, shipments from Brazil are at record numbers.
The longer voyages from Brazil to China will be a benefit to the Capesize shippers. Also, noted is that spot prices for iron ore have reached new highs for the year. China uses half of the world’s iron ore and have increased their purchases by almost 30% this year.