Pacific and atlantic capesize markets see bearish sentiment

摘要

Singapore—The Capesize market witnessed bearish sentiment on Tuesday in both Pacific and Atlantic basins. "No one will believe any kind of market rise at the moment, the question is just, how much will it fall?" a shipbroker said. The Pacific market saw a slight drop in freight rates, although the iron ore cargo volumes out of west Australia from mining majors were decent. The Atlantic side was lacklustre without a clear direction as not much was heard out of the owners' camp and charterers held back their bids. The forward freight agreement market did not see big changes amid thin liquidity.