With its time chartered tonnage tied up on Far East voyages market rumours suggest Vale will take a large number of capesizes in the Atlantic, analyst Bjorn Kristian Roed explains.

“This should position the capesize market for a rate rally in the weeks to come, if the rumours proves to be correct,” Roed said in a report this morning.

He notes FFAs for November and December have risen from $13,800 per day on Friday to $18,250 and $18,700 daily now.