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Capesize: The capes started the week on an upbeat note. All three majors were active in the market at the beginning of the week, resulting in a healthy volume of cargo from West Australia to China.
Capesize: The Capesize market softened this week as global market concern’s kept the headwinds coming.
Capesize: The Capesize market fared little better this week to begin with. However, by Friday green shoots were beginning to emerge as the 5TC saw a low of $13,596 yet closed at $15,460.
The global economy continues to grow, albeit at a slower pace than previous years. The slower economic development has been difficult for ship owners who, with a severe overhang of tonnage, have struggled with a depressed freight market since the start of the financial crisis back in 2008.
