Freight rates for capesizes continued to rise on the back of a large number of iron ore shipments into China in the past week, while adverse weather forced many vessels to stay at ports in Northern China, temporarily bringing imbalance to spot market supply and demand. Rates for panamaxes were supported by both coal shipments from Indonesia and grain cargoes out of the gulf region. As the holiday season closes in, owners are preferring to do period, which leaves less availability in spot and has created tightness in that market.
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