Pacific Capesize freight rates up as Pilbara cargoes look to move

摘要

Gurgaon—Pacific Capesize freight rates advanced Tuesday on sustained interest to move iron ore cargoes out of the Pilbara coast of Australia.Western Australian miners Rio Tinto, BHP, and FMG were all heard in the market searching for Capesize ships for mid-August laycans, providing support to freight rates. On the other hand, the Atlantic market was noticeably quieter and softer, with market participants expressing greater uncertainty on the direction of Atlantic freight rates.