Asia Dry Bulk-Capesize rates to remain flat despite capacity cuts

jueves 26 de marzo de 2015 04:26 GYT

* Up to 50 capesizes idle, laid-up around the Pacific -broker

* 28 capesizes sold for recycling -ship buyer

* Rates remain near two-month lows

By Keith Wallis

SINGAPORE, March 26 (Reuters) - Rates for capesize bulk carriers, which have been close to six-year lows for the last two months, are unlikely to improve as a tonnage glut continues to weigh on the market even as owners increasingly idle, lay-up or scrap their vessels, brokers said.

"I don't think there's any positive news. There is no sign the market is going to improve," a Shanghai-based capesize broker told Reuters on Thursday.

The broker estimated there are around 50 ships in the Pacific basin waiting for charters, with a further 40-50 ships idled or laid-up around South Africa and the Pacific region.

Owners had also sold 28 capesize vessels for scrapping so far this year compared with 35 for the whole of 2014, said a Singapore-based buyer of scrap ships.

Despite these cuts in capacity rates have remained relatively flat, Reuters shipping data showed.   Continuación...