DRY BULK MARKET

摘要

Capesize earnings have surged in recent weeks, with the 5 TC average (180k dwt) reaching the highest level since December 2017 on 12 July at $27,389/day, more than double the month-ago level. Growth was led by the Atlantic, with the fronthaul rate climbing above $52,000/day for the first time since the Baltic Exchange began assessing 180k dwt vessels in February 2014. With a monthly record number of Valemax liftings last month (and an above-average number of iron ore liftings by converted tonnage) now past, spot iron ore cargo availability from Brazil has improved, also boosted by the full resumption of operations at Vale's 30 Mtpa Brucutu mine. In addition, iron ore from Canada and bauxite from Guinea have added to Capesize load opportunities. Indeed, most recent Chinese customs data show a new high for the country's imports of Guinean bauxite in May of 5.0 Mt.