Asia Dry Bulk -Capesize rates set to diverge on weak sentiment, tight tonnage

jueves 16 de junio de 2016 04:51 GYT
 

* Rates from Australia to fall, Brazil rates to nudge higher

* "No hope" for capesize market from Australia - Shanghai broker

By Keith Wallis

SINGAPORE, June 16 (Reuters) - Freight rates for large capesize dry cargo ships on key Asian routes could diverge next week with rates from Australia to China trending lower on weaker sentiment while prices from Brazil to China could rise on tight vessel supply, ship brokers said.

That comes as freight rates slipped on Wednesday from multi-month highs hit on Monday.

"Sentiment in the Pacific is not good. There is still room for rates from Australia to drop further," a Shanghai capesize broker said on Thursday.

Fortescue Metals Group chartered a capesize ship at a rate of $4.70 per tonne on Thursday to haul around 160,000 tonnes of iron ore from Australia to China, brokers said.

That was down from the Baltic index level of $4.83 per tonne for the route on Wednesday.

"There's no hope for the market from Australia," the broker said.   Continuación...