Barry Rogliano Salles Weekly Dry Bulk Market No 591

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

30 Jun 2008

Though this year’s iron ore contract negotiations are still ongoing, there are now clear signs that China’s importers are willing to pay a sizeable freight premium for their ore product in the short-term. The 85% hike won by Rio Tinto and Portman is a marked jump on the 68% increase secured by Brazil’s Vale, and will provide a big incentive for Australian miners to raise production to meet increased demand. If a similar deal follows for BHP

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Source: Barry Rogliano Salles