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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.
The shipping number of the week provides members with a brief analysis of relevant developments in the shipping markets.
The Capesize market made new highs for the year this week after strong iron ore demand to the far east continued to develop in the market. 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.
Sibyl joined BIMCO in 2018 and started her career as a support for BIMCO’s contract editing system SmartCon in Asia. In the meantime, she teams up with BIMCO’s Training Department by hosting courses, particularly in the Far East. Sibyl graduated from the Shanghai Maritime University (SMU) and holds a Master’s degree in International Law.
What will the future bring? Overall demand growth is expected to be lower than in 2017, but still high enough to potentially improve the fundamental market balance.
The demand side continues to improve on a global scale. The winter weakness in the US and still-sluggish demand in Europe has been offset by continued strong demand on North-South trades in the Atlantic basin and improving conditions on the ever-strong intra-Asian trading lanes.