Capesize derivatives rise; activity still slow

摘要

While there was a notable increase in the Capesize freight derivative market rates, activity on the Capesize physical market in both the Asia Pacific and Atlantic regions remained slow Wednesday. According to industry sources, the push on the freight derivative rates was due to an update from Vale on the Laranjeiras tailings dam. “The Lower Public Treasury Court of Belo Horizonte ... [had] authorized the resumption of activities at the Laranjeiras tailings dam and the Brucutu mine,” Vale said in a press release. However, in the same update, Vale detailed that operations at the mine would still be on hold, as the resumption was dependent on a subsequent decision and approval from the Environment and Sustainable Development (Secretaria de Estado de Meio Ambiente e Desenvolvimento Sustentavel, or SEMAD).