A : Seven Islands (Canada) B : Ponto do Madeira (Brazil) C : Tubarao (Brazil) D : Saldanha Bay (South Africa) E : Port Hedland (Australia – Dampier, to the south west of Port Hedland, is also a major iron ore export port)

Iron Ore Trades – Brazil, north-western Australia and South Africa are among the major producers of iron ore that is moved in Capesize ships to China, Japan, Korea, Europe and numerous other industrialised countries that produce significant amounts of steel.

From 2001 to 2008, a surge in Chinese steel production brought a wave of iron ore imports that demanded extensive use of Capesize ships, and that increased the daily charter rate of many of thee vessels to around $200 000 per day, creating a boom time for shipowners.

Once the Chinese economy had slowed down, the demand for iron ore declined, as did the demand for ships, to the point that the charter rate in the first quarter of 2016 had averaged at $9 000 per day.