Dry bulk iron ore freights drop w-o-w but likely to rise later this week

Dry bulk iron ore freights declined w-o-w on 20 Jan'26 amid steady tonnage supply. However, improved fixtures, firmer bunkers, and Baltic index gains lifted Feb laycan rates above Jan, softening corrections and pointing to upward momentum later this week.

• Paradip-Qingdao: Rates declined $0.1/dmt to $9.4/dmt.
• Hedland-Qingdao: Freights were stable at $7.7/dmt.
• Tubarao-Qingdao: Rates fell $0.9/dmt to $20/dmt.
• Saldanha Bay-Qingdao: Freights declined $0.1/dmt to $14.4/dmt.