The Baltic Dry Index yielded some of its recent rate gains last week, but still was in better territory than earlier this year. The pause in upward movements may give solidity to further rate rises, according to analysts.rnThe Baltic average of four Capesize timecharter routes was $78,945 - a reduction of nearly $10,000 for the week. Charterers have taken period charters to cover their needs, but some reported spot rates are still found. In the great iron ore race to China, Capesize spot fixtures included the Shanghai Carrier (1991,156,750dwt) Tubarao-Qingdao for a trip late July-early August at $43.50 (basis 160,000 tonnes) by Vale. Later in the week, Sandra (2008,180,274dwt) was relet to Bao Steel for a Tubarao to Beilun and Baoshan voyage for early-mid July at $50/tonne.
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