Reduced port congestion dragging down global bulk freight rates
Published: Monday, 22 November 2021
Bulk freight rates for key steel products have receded over recent weeks amid shrinking port congestion in China and improved vessel availability, sources have told Fastmarkets.
A slowdown in Chinese commodity imports, coming at a time of
crashing steel prices in the country, has allowed congestion at
the country’s ports to unwind in recent weeks,
markets participants said.
Freight rates first dropped for large bulk commodities such as
iron ore and coal in mid-October, when capesize...