Bloomberg News

Iron-Ore Shipping Rates May Rise Fourfold This Quarter, DNB Says

February 09, 2012

Feb. 9 (Bloomberg) -- Rents for iron-ore carrying Capesize ships may rise almost fourfold this quarter as slower speeds and strengthening demand buoy vessel usage, according to DNB Markets, a unit of DNB Bank ASA, Norway’s biggest bank.

Earnings for the vessels may advance to as high as $20,000 a day, DNB shipping analyst Nicolay Dyvik wrote in a report today. The vessels are making $5,233, according to the London- based Baltic Exchange.

--Editors: Claudia Carpenter, John Deane

To contact the reporter on this story: Alaric Nightingale in London at anightingal1@bloomberg.net

To contact the editor responsible for this story: Stuart Wallace at swallace6@bloomberg.net


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