| Shipping rates are poised to rally in the second half of the year as Vale SA, the world’s largest iron ore producer, drives up exports of the raw material, according to Commodore Research & Consultancy.
Vale will sell 321 million metric tons of the raw material used in steel this year, the Rio de Janeiro-based miner said in a July 31 earnings statement. That implies its second half shipments will jump 22% compared with the first six months and increase demand for vessels, Jeffrey Landsberg, managing director of Commodore, a New York-based adviser to ship owners, said...............................................Full Article: Source
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