BHP books 13 Capesize iron ore cargoes to China in a week

Platts reported that BHP Billiton arranged freight for a total of 2.2 million tonnes of iron ore between Port Hedland and Qingdao in 13 Capesize ships in the space of a week. It fixed 12 ships, each to carry 170,000 million tonnes cargoes and one ship to lift a 160,000 million tonnes stem.

As per report, BHP's move has helped drive rates higher on the route to just shy of USD 8 per million tonnes compared with USD 6.45 per million tonnes to USD 6.90 per million tonnes seen at the end of last week.

All of BHP's fixtures are for cargoes due to load in the first 12 days of May. Allowing for port congestion, brokers said that most of the ships should arrive in China by the middle of June.

The latest business reported last Friday, showed that BHP fixing a 170,000 million tonnes cargo at USD 7.20 per million for a May 10 loading. It also fixed another 170,000 million stem on last Friday at USD 7.95 per million tonnes for a May 1 loading aboard the 2009 built Marvellous on what brokers said would be the ship's maiden voyage.

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