China's biggest iron ore port to raise handling fees

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

29 Aug 2008

Rizhao Port, China's largest iron ore port, said on Friday it will raise its handling fees for imported iron ore by 11 percent from Sept. 1, as iron ore stocks at China's ports remain high. The port will raise handling fees for imported iron ore moved out of the port via road or rail transportation to 30.5 yuan per

tonne, from 27.5 yuan per tonne previously, the company said in a statement posted with the Shanghai Stock Exchange.
Iron ore stocks remain high at China's ports, above 70 million tonnes, despite a government order to clear excess stocks.
China's iron ore imports in the first seven months of the year rose 22 percent from a year earlier to 269.6 million tonnes, according to official customs data.

Source: Reuters