Despite observing higher numbers of fresh cargoes out of Western Australia, South Africa, and Brazil, Capesize freight rates in the Asia-Pacific and Atlantic regions moved in separate directions Wednesday. While additional cargo volumes typically exert a positive influence on the market's sentiment, freight rates out of South Africa and Brazil dipped. Some industry participants attributed the lower rates to a fall in confidence which was largely due to the conclusion of weaker fixtures out of Saldanha Bay.
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