Can the iron ore trade prop up capesizes?
The dry bulk market is pinning hopes on a rise in iron ore exports from key locations such as Brazil in the second half of the year, which should keep capesizes nicely employed. But realistically, can this be achieved given all the problems that some large miners faced in the first six months of this year?
Optimism abounds as higher iron ore exports are expected to coincide with greater demand for coal transportation, which has the potential to ‘significantly tighten’ vessel supply, says Breakwave Advisors