Drybulk FFA Market: Vale’s Woes Continue to Dull Capesize Rates

Vale has reached an agreement with Brazilian authority to resume operation of four previously halted pellet plants in Tubarao, Brazil.
It is expected to suffer a shortfall of 40 million mt per year in its iron ore output from the decommissioning of its ten dams.
Capesize 5-time charter average has bagged spot price of $7,342, up $58 day-on-day basis.
Panamax remained unaffected by capesize while Supramax emerged as a strong contender with $5,634.

The return of Chinese trade participants from...