By Keith Wallis

SINGAPORE, March 31 (Reuters)– Freight prices for big capesize completely dry freight vessels on trick Asian paths, which struck multi-month high up on Tuesday, can climb up better on raised legal task by miners and also drivers, brokers stated.

“Only Rio Tinto has been active this week – it picked off the injured animals – fixing ships for less than the last fixture, dampening the market by 50 cents a tonne,” a Singapore capesize completely dry freight broker stated on Friday.

“There’s been no competition – no BHP Billiton, no Fortescue Metals Group and no operators,” the broker included.

“In a scenario where there’s not enough charterers chasing ships it becomes a war of attrition between charterers and owners as both hold back and wait,” the broker included.

BHP Billiton and also FMG are most likely to leap back right into the marketplace following week, in addition to vessel drivers rechartering existing vessels, the broker stated.

But Cyclone Debbie, which struck Queensland today triggering substantial flooding and also social disturbance, can moisten chartering task after coal mines were shut.

“Coal from eastern Australia isn’t a driver for the capesize market but it adds a bit more volume and cargo to the market,” the Singapore broker stated.

Charter prices from Brazil to China have actually been a lot more durable, with prices of around $17 per tonne for packing around the 2nd fifty percent of April.

“Charterers are trying to talk rates down but there are no cheapies,” the broker stated.

“(The) Atlantic continues to remain positive with tonnage still tight, especially for the first half of April dates from Brazil,” Norwegian ship broker Fearnley stated in a note on Wednesday.

Charter prices of Western Australia- to-China course climbed to $6.79 per tonne on Thursday from $6.55 per tonne a week previously. Rates struck $7.16 per tonne on March 28, the greatest given thatNov 17.

Freight prices for the course from Brazil to China reached $16.43 per tonne on Thursday versus $15.85 per tonne a week previously. Rates rose to $16.77 per tonne on March 28, the greatest given thatDec 2, 2014.

Charter prices for smaller sized panamax vessels for a north Pacific round-trip trip reached $11,087 daily on Thursday, the greatest given thatNov 10, 2014, from $10,098 daily a week previously.

“Activity in the Panamax market has increased substantially in both hemispheres this week. East coast South American grains were the main driver, but general activity in the Pacific and the Atlantic has also been firmer,” Fearnley stated.

Rates in the Far East for supramax vessels slid to around $12,000 daily for south eastern Asia freights from around $12,500 daily recently.

The Baltic Exchange’s primary sea products index reached 1324 on Thursday from 1196 recently. (Reporting by Keith Wallis; Editing by Sherry Jacob-Phillips)

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