Seanergy Maritime Holdings chief executive Stamatis Tsantanis will be happy if Vale meets this year’s minimum iron ore projection, with global coal trade expected to stay strong.
The Brazilian iron ore giant’s production volume fell 6% for the first quarter to 63.9m, putting it under the gun to meet full-year guidance of 320m to 335m tonnes.
But Tsantanis expects Vale’s ore volumes, set back by heavy rains in the Gervais region, to rise for the rest of 2022 and boost spot rates for capesize bulkers.
