Capesize bulker rates could mount a rebound if Brazil continues to pump more iron ore into the spot market, an analyst said.
The ray of hope from Maria Bertzeletou, a market analyst for Greek commercial data platform Signal Ocean, came on the same day that capesize spot rates slumped to their lowest point in two months.
The Baltic Exchange assessed rates for the Brazil-to-China route at $20,300 per day on Wednesday, a 7% dip since the day before and a 29.6%
