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Latest From Capes
Shipments from Malaysia to China will shift the pendulum back to smaller vessels while tonne-mile demand is expected to suffer from shorter distances
Normally bullish bulker owner posts seventh consecutive quarterly profit but says market increasingly hinges on various key factors
The unexpected shutdown will mean a reduction in exports to somewhere between 600,000 tonnes to 1m tonnes over 10 to 15 days, with the losses expected to be made up next month with bigger shipments, analayst Wood Mackenzie estimates
The Baltic Dry Index has reached its lowest level in two-and-a-half years and was at 634 points on Monday as fixtures to China dried up
The 40m tonnes of iron ore pulled out by Vale would result in a 4.7% decline in iron ore tonne-miles and 1.3% drop in total dry bulk tonne-miles, JP Morgan analyst Noah Parquette said
Update: Vale ordered to suspend operations at the site of the dam disaster
Average daily capesize earnings in the $13,000 to $15,000 range
The miners seemed to have fixed consistently throughout the festive season, supporting freight rates
MSI remains positive for the short-term outlook for capesize rates and projects time charter rates to be above $20,000 a day on average for the fourth quarter of this year
Overall orderbook remains at historically low levels, adding to the optimism in the market
The trade war uncertainties, while having little direct impact on the dry bulk market, might lead to a slowdown in the increase in charter rates
Freight rates are likely to improve for capesizes and panamaxes if chronic congestion continues
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