CONGESTION PERSISTS AT CHINA’S IRON ORE PORTS

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11-06-2009

   Congestion at China’s iron ore discharge terminals is remaining stubbornly high, with 84 Capesizes waiting to berth, according to local sources. This is the highest tally to date and indicates a rise of 50 Capes since late March.
Meanwhile, preliminary customs statistics reveal that China imported 53.46 Mt of iron ore in May, the second-highest monthly import total. This marks a 37% rise on the same month in 2008.