Dry bulk markets mixed amid Chinese holiday

摘要

Increased exports of coal and agricultural goods pushed Panamax rates higher last week, but a slowdown in Chinese ore purchases weighed on the Capesize market. The cost of moving dry bulk out of the Americas on Panamax-sized vessels soared, particularly for long-haul voyages. Sinochart was due to field a vessel to move 75,000 metric tonnes of coal from Newport News to India's Vizag for as much as $42.20/t. Market participants pegged the slightly longer voyage to Japan as high as $46/t.