The upward momentum in the freight market in Asia has continued in the past week, with overall supply tightening and demand improving in the Atlantic market with increasing exports of iron and grains as well as other minor dry bulks. Capes travelling from Newcastle to South China were carrying a rate of around $19.50/t this week, up from the $19.00/t the week prior. The Panamax rate for the Newcastle to South China route increased to $24.15/t, compared with $22.95/t a week ago.
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