Vale's decision to close 50 tailing dams at its Brazilian mines has put a damper on drybulk rate forecasts, particularly for capesizes.
Clarksons Platou Securities has reduced its rates outlook for the huge haulers by $1,500 to $21,000 per day, analyst Frode Morkedal said today.
The earlier estimate had been based on the assumption that Brazil would increase output by 23 million tonnes and Australia by 20 million tonnes in 2019.
