Iron ore freights drop w-o-w on fewer fixtures, but near-term outlook optimistic

Iron ore freight rates declined w-o-w on 24 Feb’26 on reduced activity during the Chinese New Year holidays. With the holidays now concluded, market participants are expected to return, thereby boosting fixture activity and lending fresh momentum to rates, sources said.

• Paradip-Qingdao: $9.5/dmt (-$0.5/dmt)
• Hedland-Qingdao: $9.3/dmt (-$0.2/dmt)
• Tubarao-Qingdao: $23/dmt (-$0.9/dmt)
• Saldanha Bay-Qingdao: $17/dmt (unchanged)