High rates in store for capesize owners through the rest of the year

The spot rates for capesize vessels freighting iron ore to China have gone up significantly and will maintain high levels through the rest of the year, writes Bimco.

Photo: PR/Golden Ocean

A significant increase in the spot rates for iron ore transports to China has generated lucrative prospects for owners of large capesize vessels, a high level that is expected to continue throughout the rest of the year, writes Bimco in an update.

The shipping association points out that the spot rates for iron ore from Western Australia to China have gone up by 163 percent to USD 21.8 per tonne since the same time last year.

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