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03 December 2008 The on-line newspaper devoted to the world of transports 03:57 GMT+1



November 26, 2004

Freight rates up on steel demand

Nao Nakanishi

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 ......
Read more on The Standard





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