Iron ore shipping rates rallied for the longest stretch since July amid speculation stronger demand for vessels is helping to erode a glut.

Costs to haul iron ore on Capesize ships, the largest carriers of the commodity, reached the highest in 10 weeks on speculation demand to ship the mineral to China increased.

Dry bulk ship capacity grew 6.95% year-over-year to 595.98 million dwt, lower than the 7.10% increase seen for the prior week.

Costs to haul iron ore and coal on Capesize ships, the largest carriers of the commodities, rose for a third session to a one-month high after more vessels were chartered.

"K" LINE (India) Private Ltd (KLIN), the Japanese transportation group's subsidiary company in India, has begun coastal shipping operations

A decline in demand for Capesize vessels has been countered by an improvement in demand for Panamax vessels,

Hellenic Carriers Limited announces that the vessel M/V Konstantinos D has been fixed for a period of 5-8 months at a daily gross hire rate of US$ 8,900.

Reports say Fredriksen-led Frontline 2012 signed the LOI for 4+2 180,000-dwt bulkers with China's Jiangsu New Yangzi Shipbuilding.

The world’s biggest cargo ship Maxi Brazil transited the Suez Canal for the third time with a cargo of 246,000 tons.

Drewry’s latest Dry Bulk Insight report shows that the Drewry Hire Index suffered a further decline in the first month of the New Year.