Bulk freight rates on the rise again amid vessel shortages, Asia Covid-19 issues

Freight rates for bulk cargoes of steel have risen in the last week amid a global shortage of ships, and the Covid-19 resurgence in China and Southeast Asia could raise costs for cargoes even further, sources have told Fastmarkets.

Bulk freight costs for steel scrap shipped from the United States East Coast to Turkey in a Supramax vessel were heard at $48 per tonne on Wednesday August 3, up from the previous rate of $38-42 per tonne in July, sources said.
The rate from Rotterdam to Turkey for steel scrap in bulk rose to $40 per tonne on Friday August 6, up $10 per tonne from $30 per tonne in June. The UK-Turkey shipping rate also rose $10 per tonne to $38 per tonne in the same comparison, sources said.

The freight cost from the US West Coast to Bangladesh rose to $90 per tonne for a 30,000-tonne cargo, according to recent quotations from shipping lines. The rate was heard at $75-85...

Published

Lee Allen

August 07, 2021

17:41 GMT

London