NCRI – Iran’s state media reported iron ore exports have come to a halt due to increasing shipping fees.
“With the increasing rise of sea shipment prices and discounts enjoyed by Forteskio and India companies for below 58% iron ore, such exports have been halted,” said Keivan Tehrani, head of the Iron Ore Producers and Exporters Association to the semi-official Tasnim news agency.
“Despite the fact that currently the IODEX price of 62% Plats is around $55, Iran’s below 58% iron ore exports are far worse in comparison to 2014 when the price was below $40,” he added.
“We witnessed in 2014 how the cost of shipping from Bandar Abbas (southern Iran) to China was $7.50 to $9 for the 55,000-ton Supramax ship. This rate is now.
Between $13 to $14.50, and this $5.50 to $6 raise is due to the increase in the Bunker rate, and especially high demand for goods in bulk goods,” Tehrani continued.
