Iron-Ore Ship Rents Fall to Six-Week Low on Surplus Vessels

Rents for capesize ships that haul iron ore fell to the lowest level in six weeks on excess vessel supply.

Hire rates dropped 2.9 percent to $6,655 today, according to data from the Baltic Exchange in London. That’s the lowest since March 7 and the 11th straight decline. Rentals fell 36 percent in the three weeks to April 15.
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Source: Bloomberg