Healthy volumes for capesize FFAs seen continuing in 2012
Strong iron ore demand is expected to keep capesize prices afloat this year, although some choppiness is forecast. Jay Maroo reports on what that means for the forward freight agreement market in 2012
The main story for the freight market last year was the resurgence of capesize vessels, with prices rising by 200% in the second half of the year, from $10,000 a day in July to $30,000 a day by December. Relatively high prices, supported by China’s demand for iron ore, are expected to continue throughout 2012, with volumes in certain forward freight agreements (FFAs) expected to rise as a result, say shipping market experts.
While capesize prices are expected to fall at the start of the year
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