With iron ore prices touching $200 pmt yesterday, the cost of shipping a 170,000mt 10% cargo on the West Australia to Qingdao C5 route closed the week at $14.427.
Midweek saw a splurge of period fixing as both physical fundamentals and FFA’s aligned with 2 x 82,000-dwt delivery Asia both achieving $22,000 and $21,000 for one year’s period.
In Asia, more activity from the north Pacific saw a 63,000-dwt open south China fixing a round voyage at $30,000, whilst a 60,000-dwt open CJK fixed an Australian round voyage at $30,000.
For shorter period, a 38,000-dwt newbuilding log-fitted vessel fixed delivery Dop Ex yard in Japan for four to six month redelivery worldwide at $29,000.