Shipping Q4: Capesize market feasts on robust China iron ore demand

Defying the anemic industrial activity seen elsewhere globally due to the current pandemic, China imported extraordinary volumes of iron ore during June, July as well as August at 101.7 million mt, 112.6 million mt and 100.3 million mt, respectively, according to the General Administration of Customs data.

Catering to China's iron ore demand, the Capesize segment boomed in Q3 with the Platts Cape T4 index basis 0.5% sulfur marine fuel averaging $20,823/d after registering a high of $31,901/d on July 6.