Capesize Market Plunges To Below 20 dollars/Ton For Brazil To China Service

摘要

The Capesize spot charter market has been declining for more than a month, with a rate as low as 19.50 dollars per ton set on a 185,000-ton Brazilian ore laden vessel bound for China. The fall to below 20 dollars per ton has taken place for the first time in a year and ten months since August 2003. Likewise, time charter rates for Panamax size vessels serving Western Australia to East Asia are less than 20,000 dollars at 19,500 dollars per day.