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Capesize activity slowed during the week of 7-14 June because of European holidays and fewer iron ore cargoes out of Western Australia. Vale expected to restart its Brucutu mine, adding about 20 million mt of annual capacity, and oil prices rose after tanker attacks near the Gulf of Oman.
Thin physical activity limits near-term freight support, while the Vale restart could add Brazilian ore tonnage and firm Capesize rates later in the period.
seatrade-maritime.comMarcus HandJun 14, 2019Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
