Bloomberg News

One-Year Ore-Ship Hire Costs Fall Most Since 2009, Clarkson Says

January 16, 2012

Jan. 16 (Bloomberg) -- The cost to hire the largest type of dry-bulk commodity ship for a year fell 22 percent in two weeks, the most since 2009, according to Clarkson Research Services Ltd.

One-year time charters for capesize vessels slid to $17,000 a day in the two weeks ended Jan. 13, against $21,875 in the prior period, according to figures from London-based Clarkson, a unit of the world’s biggest shipbroker. That was the largest two-week decline since March 13, 2009.

--Editors: Dan Weeks, Nicholas Larkin.

To contact the reporter on this story: Isaac Arnsdorf in London at iarnsdorf@bloomberg.net

To contact the editor responsible for this story: Alaric Nightingale at anightingal1@bloomberg.net


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