Asia Dry Bulk-Capesize rates to hold firm during China holiday

viernes 30 de septiembre de 2016 02:17 GYT

* Capesize rates slip from year-long highs as miners absent

* Owners still optimistic of Qtr4 bounce in capesize rates -brokers

By Keith Wallis

SINGAPORE, Sept 30 (Reuters) - Freight rates for large capesize dry cargo shippers on key Asian routes, which hit the highest in about a year last Thursday, are set to remain buoyant during China's week-long National Day holiday that starts on Saturday, ship brokers said.

"The market is always firm during Golden Week holidays, so I don't think the capesize market will fall off a cliff," a Shanghai-based capesize ship broker said on Friday.

"I think the market will stay around current levels and maybe go up a bit as we start the fourth quarter," the broker said.

Capesize rates slipped after peaking last week as Brazilian miner Vale and Australian miners Fortescue Metals Group and BHP Billiton were largely absent from the market, brokers said.

There were 21 capesize spot charter fixtures recorded in the week to September 29, compared with 44 in the previous week, data on the Reuters Eikon terminal showed.

"People are a little more optimistic that chartering activity will pick-up next week," a Singapore-based capesize broker said on Friday.   Continuación...