Weather in Australia has maintained Capesize uncertainty in the Pacific. The Western Australia to Qingdao rate is reported at $6.50/tonne, but little activity has been observed. Brazil to China rates were about $17/tonne. Only 20M tonnes of ore were shipped from Brazil last month. To meet expectations of 310-315M tonnes/year this year, the pace will have to increase. An Atlantic round voyage (relet) was said to have been fixed at just $4.500/day. Ballasting Panamaxes have resulted in Atlantic rates of about $20000/day for fronthaul routes, while trans-Atlantic voyages are about $10,000/ day. In a softening Panamax market, a Pacific round voyage was rated at $6,000/day.
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