Cape for Cargill

Cargill has added a Chinese-owned capesize bulker to its chartered fleet, brokers say.

The trader has hired the 170,000-dwt Golden Trust (built 1996) on a 15 to 18 month contract, the Baltic Exchange reports.

A rate of $19,750 daily has been agreed for the ship compared with the $15,350 per day available in the spot market right now.

Capesize rates were down 4.2% today, following a slowdown at the end of last week.

It came amid further expectations increased Brazilian shipments will help boost demand and rates for capesize bulkers in the later months of this year.

Golden Trust is the only capesize in the six strong mixed bulker fleet of Jiangsu Huaxi Ship Management.

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