Singapore—Bullish sentiment in the Capesize market strengthened mid-week ahead of Easter holidays, mainly as the freight forward agreement (FFA) segment firmed up, boosting the confidence of owners. As a result, physical trading activity was limited and freight rates found a floor in the Pacific. In the Atlantic market talks increased but few fixtures emerged during Asian trading hours except for some tenders. “The TCE on the key Brazil and western Australia iron ore shipping routes is balancing up -- I think we will see more ballasters as the market expects demand to improve for the May loading window,” a shipbroker said.
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