Iron ore freights edge higher w-o-w; outlook turns bearish

Iron ore freights rose w-o-w on 3 Feb’26 as fixtures were concluded at higher levels amid tighter tonnage across key loading regions. Despite positive sentiment, participants cautioned that rates may cool sharply amid plunging commodity and equity markets, with FFA rates sliding in Asian hours.

• Paradip-Qingdao: $10.60/dmt (+$0.9/dmt)
• Hedland-Qingdao: $9.50/dmt (+$1.7/dmt)
• Tubarao-Qingdao: $23.20/dmt (+$1.2/dmt)
• Saldanha Bay-Qingdao: $17.50/dmt (+1.8/dmt)