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Capesize: Following the UK Bank holiday, Tuesday marked a strong start for the Capesize market with rising rates in both the Pacific and Atlantic regions, driven by increased miner activity and healthy cargo volumes particularly in the Pacific.
Capesize: The Capesize market experienced a strong week with the timecharter average breaking over $30,000/day, the highest value in 17 months.
Capesize: Throughout the week, the cape market has displayed remarkable resilience and positivity, defying challenges such as holidays in the Far East.
Capesize: The Capesize market was in a ‘one step forward, two steps back’ mode this week. The average of the 5 time charter routes eventually settled at $12,598, a decline of $775 week-on-week.
Capesize: The Capesize market was unable to carry the rally from last week as rates were seen to dip sharply this week with the 5TC down 4901 to $19,875.
Capesize: It was turbulent seas this week as global markets buffeted the Capesize sector.
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.
Reproduced with the kind permission of the Baltic Exchange.
