Asia Dry Bulk-Capesize rates set to rebound if chartering activity increases
* Capesize charter rates trend lower on Thursday - broker
* Panamax rates expected to continue to decline - broker
By Keith Wallis
SINGAPORE, Nov 13 (Reuters) - Rates for capesize bulk carriers on key Asian routes could rebound next week if chartering activity increases, although gains would be capped with plenty of ships available, brokers said.
Capesize freight rates on trade routes from Australia and Brazil to China continued to trend down on Thursday in a quiet chartering market, brokers said.
But a revival in rates would be sparked if major iron ore miners such as Rio Tinto, Fortescue Metals Group and Vale remain active and tighten tonnage supply, brokers said.
"There have been a few fixtures this week from FMG, which has not been in the market for some time. Rio has been in the market and Vale has done a few fixtures this week," said a Singapore-based capesize broker on Thursday.
FMG chartered several ships at $8.65-$8.90 per tonne on Thursday for voyages from Australia to China, brokers said.
That was after rates for the Western Australia-China route slipped to $9.00 per tonne on Wednesday from $9.42 a week earlier. Continuación...