Things looking up for Cape owners operating from Atlantic

In the South Atlantic, Capesize iron ore shipping volumes have been poor so far, with exports down by 27 mln t from last year. Brazilian iron ore exports are down by 6 mln t vs. 2019 levels, when the dam collapse disrupted the export program considerably. Meanwhile, the story looks totally different for non-iron ore commodities, such as coal and bauxite, which are the main source of demand for Capesize tonnage these days:

• Rates for transportation of 170,000 t of iron ore from Tubarao to Qingdao with spot laycans are hovering at $30-31/t;
• The contract for shipment of a Capesize lot of iron ore from Tubarao to Qingdao with late July laycans is discussed at $31/t;
• The deal for transportation of 190,000 t of iron ore from Sudeste to Qingdao with late July laycans is negotiated at $28-29/t;
• The deal for shipment of 170,000 t of iron ore from WAfr to Qingdao with late July laycans is discussed at $29-30/t;
• Transportation of 170,000 t of iron ore from Brazil to Rotterdam with July laycans is negotiated at $15-16/t.

The North Atlantic segment is showing an uptrend amid brisk shipments of coal on T/A and F/H routes:

• Transportation of 160,000 t of coal from Bolivar to Rotterdam with spot laycans may cost $16-17/t;
• Rates for shipment of 120,000 t of coal from USEC to Rotterdam are hovering at $16-16.5/t;
• The deal for transportation of 160,000 t of coal from USEC to China with 2H July laycans is discussed at $45-46/t.