There has been a positive feel to the start of post-Easter trade in the freight markets with cape and panamax rates both benefiting. Iron ore into China and the South American grain season are the main drivers behind the upwards momentum according to shipping sources. "There has been a bit more iron ore in both basins and a fair amount of grain in the Atlantic," one market player told MCR. Panamax rates have ticked up over the past week as the Latin American grain season gets into full swing. Prompt panamax rates on the Richards Bay to Rotterdam route have risen nearly 1 dollars from 9.20 dollars/t last Thursday to 10.10 dollars/t by yesterday.
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