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Seatrade Maritime reports on April 4, 2019 that capesize freight rates were pushed lower by a shortage of fresh cargoes from Australia and Brazil. Cyclone Veronica disrupted Western Australian iron ore shipments, and Vale's Brazilian operations were still restarting after the Brumadinho dam collapse.
Iron ore supply disruptions weigh on capesize demand and freight rates. The effect on grain freight is indirect, since the cargo shortage is concentrated in bulk ore trades.
seatrade-maritime.comMarcus HandApr 4, 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.
