The Capesize market remained flat following the Chinese New Year holiday, as four Vale pellet plants resumed operations. However, Vale still expects a 40 million metric tonne (mt) annual shortfall in iron ore output following the decommissioning of ten dams. In its latest quarterly report, Vale said it expected to achieve an average profit margin for the year ending March 2018 at around 30 per cent and that net income would be about $US1 billion ($@@ The Panamax time charter average was unaffected by the Capesize market, recording a $69 DoD increase, while the Supramax time charter grew $289 DoD, and Handysize grew $87 DoD.
The Capesize market remained flat following the Chinese New Year holiday, as four Vale pellet plants resumed operations. However, Vale still expects a 40 million metric tonne (mt) annual shortfall in iron ore output following the decommissioning of ten dams. The sluggish iron ore demand contributed to the Capesize 5 time charter average increasing slightly by $58 day-on-day (DoD) on 14 February to a spot price of $7,342. The Panamax time charter average was unaffected by the Capesize market, recording a $69 DoD increase, while the Supramax time charter grew $289 DoD, and Handysize grew $87 DoD.