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Capesize: The week in the capesize market concluded with a continued trend of declining rates.
The low demand on the high volume trade lanes is surely increasing the pressure on earnings which is already felt in the container shipping industry.
Captain Xu Lirong, Chairman of COSCO Shipping, received the President’s Award at the BIMCO Conference in Shanghai for his excellent life-long service to the shipping industry. China Merchants Energy Shipping received the award for Best Shipping Company of Greater China Area 2019.
Capesize: As the week unfolded, the Capesize market saw a blend of stability, resistance, and shifts in sentiment across both the Pacific and Atlantic regions.
Capesize: The capes have faced a challenging week, marked by holiday disruptions
Capesize: The Capesize market was positive over the week, rising in excess of $1,200 to close at $13,957.
Capesize: The Capesize market made a revival this week, taking fortunes out of the red by rising the tide on values to be closer to the low-teens level on the 5TC.
Capesize: There was positive sentiment throughout the dry freight sector this past week, including Capesize, as traders returned from Lunar New Year holidays. Activity was clearly seen to be elevated as the Capesize 5TC rose +5095 over the week to close on a mild Friday at $15,397. The weekly dry bulk market report contains a summary of the recent movements in the market, alongside the latest figures for average dry bulk earnings and Baltic Dry Indices.
The Panama Canal stands as one of the world’s most vital intercontinental waterways, playing an important role in facilitating global trade, particularly along the routes connecting the Americas and Asia. The weekly tanker market report by Gibson Shipbrokers - features an overview of the crude oil and oil product tanker market.
Capesize: The Capesize market looked to have found a bottom by week’s close as rates descended throughout before bouncing back a little at the end. The 5TC weighted average opened the week at $7,390, descended to a low of $5,826 before settling at week’s end to $8,918. The weekly dry bulk market report contains a summary of the recent movements in the market, alongside the latest figures for average dry bulk earnings and Baltic Dry Indices.
