Asia Dry Bulk-Capesize rates face mixed fortunes in dull cargo market
* Brazilian freight rates to firm on limited tonnage -broker
* Australian rates to fall on lack of cargo -broker
By Keith Wallis
SINGAPORE, Dec 10 (Reuters) - The market for capesize bulk carriers is likely to be a tale of two oceans next week, with rates in the Pacific coming under further pressure due to a lack of cargo, while Atlantic rates could continue to rise on a tonnage shortage, brokers said on Thursday.
"Rates from Brazil are still going to push up because tonnage is quite tight," a Singapore-based capesize broker said on Thursday.
Brazilian miner Vale and operators such as Hong Kong's Caravel Group and South Korea's Pan Ocean concluded a raft of fixtures this week to haul iron ore from Tubarao to China, which supported freight rates, according to brokers and Reuters freight data.
"All the other trades are heading down," the broker added.
"It is only Rio Tinto that has been picking up ships, taking a few ships each day," the broker said.
"BHP Billiton hasn't been doing anything and Fortescue Metals won't have any charters until the end of December," the broker added. Continuación...