Capes carrying more bauxite than coal for the first time

China’s remarkable thirst for bauxite to manufacture aluminium has helped prop up cape rates considerably in recent years. Now for the first time, the capesize fleet is carrying more bauxite than coal, according to broker Arrow.  “Volumes from Guinea have surged at the start of the year, whilst panamaxes have been cannibalising capesize coal cargoes. …