TOKYO -- Freight rates for large bulk carriers fell more 90% from last year's peak amid sharply lower demand for iron ore in China, the world's largest steel producer.
Commodities
Bulk shipping rates tumble 90% as China steel output shrinks
Commodity vessel slump stands in sharp contrast to container ship crisis
Demand for commodity freight has shrunk as China's steelmaking has slowed along with the country's wider economy.
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