Capesize freight rates lack buoyancy despite raft of iron ore cargoes

摘要

Capesize freight rates in both the Atlantic and Pacific regions lacked any support Wednesday despite a healthy flow of iron ore cargoes out of Brazil and Western Australia. "Unfortunately, while we see healthy cargo flows, freight rates are soft," said a shipbroker based in Hong Kong. Rates fell on the back of lower bunker costs, according to sources. "There are lots of cargoes but cheaper bunker is responsible for at least 15 cents of the drop," said another shipowner based in Asia.