30.09.2011 - Commodity ship rates fall as demand for Brazilian ore weakens
The cost of hiring iron ore- carrying capesize ships fell a third day in London as demand declined for the vessels to ship the raw material to Asia from Brazil. Rents for the vessels, which carry at least 150,000 metric tons of cargo, slid 2.4 percent to $27,445 a day, according to the Baltic Exchange in London today. The Baltic Dry Index, a wider measure of commodity transportation costs spanning smaller ships, also declined a third day, dropping 0.4 percent to 1,913 points. Capesize ships are also known by the industry as capes..............................................Full Article: Source
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