Asia Dry Bulk-Capesize rates to go lower as tonnage woes weigh on market
* Many vessels available for charter put pressure on freight rates
* South Korea's Polaris puzzles market with discounted rate -brokers
* Steel production set to increase further - ANZ
By Keith Wallis
SINGAPORE, Oct 13 (Reuters) - Freight rates for large capesize dry cargo ships on key Asian routes are set to slide next week as the number of ships available for charter outpaced cargo demand, ship brokers said on Thursday.
"Charterers are in the market but there aren't that many cargoes to support the volume of ships. There is a softer feel to the market," a Shanghai-based capesize broker said.
Owners were left puzzled after South Korean operator Polaris Shipping offered $11.95 per tonne to charterers for a voyage from Brazil to China on Thursday.
That was a discount of 45 cents per tonne, equivalent to a loss of $76,500 on a typical 170,000 tonne iron ore capesize cargo, to the prevailing Baltic index rates, brokers said.
"Nobody can understand why Polaris is offering a heavily discounted rate," the Shanghai broker said. Continuación...