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Bad news piles up for iron ore carriers as China demand seen falling

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SINKING DEMAND: Cranes unloading iron ore from a ship at a port in Rizhao, Shandong province in China. The country is expected to consume less steel on an annual basis for the first time since 1995.

New York

THE worst start to a year for ships hauling iron ore since at least 2000 has gotten so bad that rates no longer cover crew costs. Now for the bad news.

China, whose demand for iron ore grew the most over the past decade, will consume less steel on an annual basis for the

sentifi.com

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