Asia Dry Bulk-Capesize rates could hold near four-month highs next week
* Flurry of cargo fixtures push Australia, Brazil rates to highest since December
* Raft of charters brings idled ships back into market
By Keith Wallis
SINGAPORE, April 7 (Reuters) - Freight rates for large capesize dry cargo ships on key Asian routes are likely to hold steady next week near four-month highs if owners continue to reactivate idle tonnage on upbeat cargo demand, ship brokers said on Thursday.
"If more idled ships are put back into the market there may not be the support from cargo demand to push rates up any further," said a Shanghai-based capesize ship broker.
"Rates from Western Australia to China are still below $4 per tonne. Owners are offering $7 per tonne for Brazil to China, while charterers are bidding $6.50 per tonne," the Shanghai broker said.
That followed a flurry of cargo fixtures by miners, including BHP Billiton and Vale, that pushed rates to the highest level since mid-December.
That prompted some shipowners, ship brokers highlighted Zodiac Maritime Agencies, to put idled tonnage back into the market this week.
Zodiac's 172,510-deadweight tonne (dwt) capesize Cape Osprey was chartered by Oldendorff Carriers at $5,500 per day after being anchored east of Singapore since Jan. 11, ship chartering data on Reuters Eikon terminal showed. Continuación...