Port inventories’ nightmare to haunt Capes?
High iron ore inventories at Chinese ports and looming uncertainty in the global economy are threatening the demand for Capesizes.
31 Jan 2019: Brumadinho disaster will hurt Capesize demand
The collapse of the upstream dam in Brumadinho will hurt Vale’s iron ore production from Minas Gerais in Brazil if the Brazilian government does not allow Vale to compensate the loss by increasing production at its other mines. Potentially35-40 Capesize vessels might lose employment in 2019.
14 Dec 2018: China’s import restrictions on coal spoils the party for Panamaxes
The Chinese government’s objective of suppressing coal and lignite imports in November and December 2018 is adversely impacting demand for Panamaxes and thus rates. Nonetheless, we believe imports will be supported by winter and high-energy demand in the first quarter of 2019.
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