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
Add FMG (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$16.21 |
Change
0.090(0.56%) |
Mkt cap ! $49.84B | |||
| Open | High | Low | Value | Volume |
| $15.98 | $16.29 | $15.91 | $72.50M | 4.494M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 20 | 9025 | $16.20 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $16.21 | 2706 | 10 |
View Market Depth
| Last trade - 13.04pm 09/09/2024 (20 minute delay) ? |
| FMG (ASX) Chart |