Fewer long haul voyages force Capesize ship rates to multiyear lows

Despite iron ore movement staying resilient amid the global coronavirus pandemic, key Capesize freight rates to move iron ore from Brazil and Australia to China tumbled to multiyear lows on Wednesday. A noticeable drop in long haul voyages — which accounted for sizable tonnage volume — saw the freight to move 170,000 mt (plus/ minus …

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