A partial return of Vale’s iron ore output this year will most likely boost capesize rates, but full-on production in the next few years may not keep bulker earnings rising, analysts say.
Vale expects to return 30 million tonnes of output to the market by the end of 2019 after reopening its massive Brucutu mine in the south-eastern state of Minas Gerais in June, according to a second-quarter production report from the Brazilian iron ore giant.
