The jump in chartering reflects average monthly Chinese steel output that’s been about 10 percent higher in 2013, reducing the nation’s ore stockpiles to the lowest for this time of year since 2007. Imports of the raw material into China rose to a record last month. The demand is diminishing the fleet’s biggest capacity glut in three decades, spurring an almost sevenfold surge in rates since Jan. 2 that means ship owners are making money again for the first time in almost two years.
Source: Bloomberg
Source: Bloomberg
