Dry bulk shipping rates for industrial minerals fell again this week, almost halving since the end of last year. Adding to ship owners’ woe, a cyclone also battered Australia’s iron ore shipping region, shutting Port Hedland until the weather clears.
The Baltic Dry Index (BDI) fell to 1193 on 11 January compared with 1552 on 4 January. Capesize, Panamax, Supramax, and Handysize were 1992, 1393, 1035, and 548...