Capesize shipping sector weakens again in Eastern Hemi
Capesize rates are sliding down again in the Eastern Hemi given slower ore traffic ex W.Aus:
Transportation of 170,000 t of ore from W.Aus to Qingdao is estimated by ISM at $12.5-13/t;
The deal for shipment of 170,000 t of ore from Dampier to Qingdao with early July laycans has been signed at $13/t. A similar contract has been concluded at $11.65/t.
As for coal traffic from Australia, shipment of a Capesize lot of coal from Newcastle to CJK is estimated by ISM at $19-20/t.
Regarding ore exports from S.Afr, transportation of a Capesize lot of ore from Saldanha Bay to Qingdao is estimated by ISM at $23-24/t.