The post Chinese New Year rebound failed to materialise this week, sending shipping costs for dry bulk minerals down to past 25-year lows, with charter rates falling below operational costs for some vessels.
China also banned Vale's new fleet of jumbo dry bulk carriers from entering its ports, citing a downturn in the shipping and safety regulations, in a move to protect its own ship owners.
The Baltic Dry Index (BDI) was 622 on 1 February compared with 784 on...