DRY BULK MARKET

摘要

Average Capesize earnings (180k dwt) spiked to the highest level since September 2019 on 6 July at $33,760/day and currently stand at $27,644/day. Increased iron ore export availability from Australia and Brazil to China supported the earnings surge. Trade data for June show Port Hedland iron ore throughput climbed to a record 51.8 Mt, while Brazil's iron ore exports jumped to an 8-month high of 30.1 Mt, up from 21.6 Mt in May. Meanwhile, a build-up of congestion at Chinese iron ore ports has tightened Capesize supply. High iron ore prices continue to encourage a supply side response from producers, at $107.05/t the delivered price of iron ore (TSI 62% Fe) is at its highest price since August 2019.