Asian Cape rates continue to find support

摘要

Asian Capesize freight rates hit a new 12-month high this weekamid oil prices weakening ahead of the OPEC meeting andrelatively strong iron ore exports from Australia.The Baltic Exchange (BE) rate for Pacific round voyage, routeC10_14, was up 3% to $14,442/d on 27 September, from $14,083/don 20 September, which was then an 11 month high. The spotvoyage charter freight for Capesize vessels from Newcastle toSouth China peaked at $8.50/t earlier this week, but then fell backto around $8.10/t today, although this was still higher than the$7.80/t reported on 20 September, shipping sources said.