Traders Use Iron Ore Carriers To Transport Coal As Energy Demand Rises

Amid lackluster demand for iron ore in China, traders have started to use bulk carriers previously shipping iron ore on new routes to transport coal as the world grapples with an energy crisis and rising demand and prices of coal.   Iron ore demand in China is weak this year amid a real estate crisis and snap COVID lockdowns.

Last month, iron ore prices hit their lowest since November 2021, following a disappointing peak construction season in China, which showed that an expected recovery in steel demand failed to materialize. Iron ore futures…