Average charter rates for Capesizes have fallen by 31% in the last week to $6,112/day with both fronthaul (Atlantic-Pacific) and trans-Atlantic round voyage charter rates down by almost $4,000/day as the Atlantic market came under pressure from vessels ballasting from the East. Fronthaul earnings of just over $24,000/day are the lowest since early April, while transatlantic earnings of $4,617/day have slumped back below vessel operating costs after briefly rising to a 4-month high of $8,760/day in mid-May.
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