Congestion at north China portssupports freight rates

摘要

Poor weather last week in northChina caused the Caofeidian and Tianjin portsto close, resulting in congestion and tighteningof the overall Capesize spot tonnage supply,market participants said Monday.Waiting times for Capesize vessels todischarge at Caofeidian currently stand at 7-10days, with the wait at 10-15 days for Tianjin,a port agent said Monday. Normal waitingperiods are closer to three to five days, marketsources said.