By Nao Nakanishi
HONG KONG, Nov 25 (Reuters) - China's hunger for steel is pushing dry cargo freight rates back up towards historic highs, with no let-up in sight through next year unless Beijing slams on the economic brakes.
Shipping and steel industry officials say there is a global shortage of ships as iron ore, used for making crude steel, is again moving to China at a rate of more than 200 million tonnes a year, up by about 50 million tonnes from 2003.
The ...
Sign in to access
this Article
"Freight rates soar as China feeds on iron ore" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. To obtain Premium status, please contact us.
Why Become a Premium Subscriber?
WardsAuto.com Premium subscribers have access to the full breadth of Ward’s articles, news, analysis and features as well as all the Ward’s data and statistics as soon as they are available in Excel spreadsheet format. Learn more about the benefits of Premium access here.
