I don't think its quite as simple as that. Its not simply a matter of allowing the big ships in. The ships are owned by Cosco and leased to Vale in a complex as yet unclarified arrangement. I don't think Vale's own big ships are allowed direct access yet.
Interesting to see the Baltic index is now 66%higher than it was in July. Presumably while companies try to jam as much ore in to China as they can?
Australia has about a $20 freight advantage over Brazil.
Early in July, the Baltic Dry Index hit a 52-week low of 723. Since then, the index has surged almost 66% to a recent high of 1197 last week
time frame, page-7
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Last
$21.86 |
Change
0.040(0.18%) |
Mkt cap ! $67.30B | |||
| Open | High | Low | Value | Volume |
| $22.18 | $22.18 | $21.69 | $119.2M | 5.445M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 14450 | $21.85 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.87 | 152 | 1 |
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| Last trade - 16.10pm 09/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |