Baltic Exchange Shipping Insights

DRY BULK REPORT

Capesize

The Vale dam tragedy sparked a sharp fall in rates across all regions even where tonnage remained tight. The potential loss of production prompted a panic among some owners and operators who chased rates down.

Vale did fix a ship on the key run from Tubarao to Qingdao at $13.75 mid-week and as the week closed out the rate was hovering around the mid $13.00s.

The North Atlantic still saw limited tonnage availability but fronthaul rates dipped closer to $20,000 and a well described 180,000dwt vessel fixed a transatlantic round at $14,000 daily.

In the East, as the Chinese New…