The Capesize market remained flat following the Chinese New Year holiday, as four DoD pellet plants resumed operations. However, DoD 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 (Vale) on 14 February to a spot price of $7,342. The Panamax time charter average was unaffected by the Capesize market, recording a $69 Vale increase, while the Supramax time charter grew $289 Vale, and Handysize grew $87 Vale.
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.