Asia Dry Bulk-Capesize rates could gain next week, owners upbeat on Q4
* More activity from Australian miners buoy capesize rates
* Dry cargo market remains over-tonnaged as fleet growth outpaces demand -Bancosta
By Keith Wallis
SINGAPORE, Aug 11 (Reuters) - Freight rates for large capesize dry cargo ships on key Asian routes should stay largely unchanged next week on static cargo volumes though shipowners remain confident about prospects in the fourth quarter, ship brokers said.
"I feel it's another boring week. People still have confidence in quarter four," a Shanghai-based capesize broker said on Thursday.
That came as Rio Tinto fixed the 178,623 deadweight tonne (dwt) capesize ship Mount Austin on Thursday to haul iron ore from Western Australia to China at a rate of $4.40 per tonne, brokers said.
The rate was about 10 cents higher than the Baltic dry bulk index rate for the route on Wednesday.
"I think rates from Western Australia to China will be around $4.50-$4.80 per tonne and around $9.10-$9.30 per tonne for Brazil to China, next week," the Shanghai broker said.
Australian iron ore miners Fortescue Metals Group and BHP Billiton were slightly more active this week, which helped buoy rates, although the number of global capesize spot charters remained unchanged at 23. Continuación...