FMG 4.51% $17.37 fortescue metals group ltd

freight rates falling

  1. 3,292 Posts.
    Brazil/China Iron Ore Freight Rates (US$/M.T.)
    Date High Low
    Jan 2007 $36.64 $33.64
    June 2007 $52.34 $ 40.50
    Dec 2007 $91.85 $ 81.09
    Mar 2008 $ 76.54 $ 64.00
    July 2008 $89.00 $ 84.19
    Sept 2008 $68.71 $ 33.52
    Oct 2008 $31.63 $ 10.66
    Source: Shipping Research/Mitsui O.S.K. Lines
    These shipping rates show freight rates back to Jan 2007 levels, so even leaving out falls in spot IO prices, the Chinese are getting their iron ore a lot cheaper, if they want to buy it. Shipping rates looked to have peaked in July 2008.
    Regards
    Buffett
 
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