The low impact on the dry bulk market of an increase in Chinese iron ore imports is down to simple tonne-mile demand, according to Precious Shipping managing director Khalid Hashim.

The trend for the future is towards greater specialisation in the dry bulk market, according to Drewry Singapore president and ceo Arjun Batra, who even went so far as to suggest that "VLOCs (such as the Valemaxes) will eventually push out capes".

Brazilian miner Vale is both looking to sell more its Valemax VLOCs and order additional vessels to meet iron ore shipping demand to China.

In the continued signs of a thaw from China over Valemaxes China Merchants Energy Shipping (CMES) is to order 10 VLOCs for contracts with Vale.

Valemaxes: the world’s largest bulkers and the most controversial ships in commercial shipping in many years may finally be used as they were intended after a deal between Cosco and Vale last week.

In a move that would appear to break China’s ban on Vale’s 400,000 dwt VLOCs the Brazilian miner has signed a deal that four valemaxes will be transferred to Cosco and the Chinese company will build 10 more similar vessels.

After a 66% rise in capesize rates last week analyst Commodore Research & Consultancy believes they are set to “rise to much further” this year.

A “very large surge” in Brazilian iron ore exports is being forecast by analyst Commodore Research & Consultancy, and is set to boost the capesize market.

China wants to set up a partnership with Brazilian miner Vale to tranship iron ore from its massive valemaxes, which are banned from Chinese ports.

Navios South American Logistics has signed a 20 year deal with Vale for the storage and transshipment of iron ore and commodities.