Bearish sentiment saturates Pacific and atlantic capesize markets

摘要

Singapore—Bearish sentiment pervaded the Capesize markets in both the Pacific and Atlantic basins Thursday, with owners conceding for covering at lower freight rate levels seen Wednesday. The FFA market extended losses, adding the negative feel to the physical market. The seaborne iron ore price remained higher, supporting the shipping demand. Bunker fuel availability and the barge schedule were mostly tight across Far East area. Driven by steady demand for low sulfur fuel oil, the bunker differential was witnessed booming. ###