extract from Citibank freight report issued today-
"The positive sentiment towards the Capesize vessels continued yesterday with the belief that stronger Iron Ore demand from China will continue. The upward pressure culminated in a positive morning session with strong demand for Cal09 but, with a lower than expected index, the afternoon trading session was quieter. Capesize Average moved nearly 18% but Q1 2009 fell by over 4% to $16,500.
Publication of the FFA Volumes yesterday has seen a significant improvement in the trading Volumes for the w/e 12th December up 74% since the end of November across of the Indices albeit only back to the Volumes seen at the end of October."
This would suggest destocking of chinese iron ore may be over and shipments to resume.
extract from Citibank freight report issued today-"The positive...
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