Pacific Capesize market ends week on firm note, Atlantic muted

摘要

Singapore—The Capesize markets in the Pacific ended the week on a firm note amid a decent cargo list, while the Atlantic market was muted Friday. "Shipping demand out of Australia is robust, which is the main driving force for the Capesize market," a Capesize ship-operating source said, adding that the West remained sluggish, including the Brazil to China and South Africa to China trips, as well as the trans- Atlantic segment. In addition to owners being resistant, the rally in the bunkers market due to strong crude prices as well as a resurgent Capesize paper market strengthened sentiment. However, overall market fundamentals remained weak with participants saying the current Time Charter Equivalent levels were falling below the daily operating expenses of Capesize owners.