Dry bulk iron ore freight rates under pressure amid sluggish market sentiments

Iron ore freights presented a weaker picture this week – rates declined across Pacific and Atlantic routes amid softer market sentiment, reduced cargo activity, falling Baltic index, crude oil futures and bunker prices.

• Paradip-Qingdao: Rates stood at $11 w-o-w (-$0.3/dmt)
• Hedland-Qingdao: Freights were at $10.60/dmt (-$1.5/dmt)
• Tubarao-Qingdao: Rates were assessed at $22/dmt (-$2.4/dmt)
• Saldanha Bay-Qingdao: Freights stood at $17.32/dmt (-$2.48/dmt)