Singapore—Capesize freight rates trended lower on July 13, while trading activity remained largely thin. "I expect the market to come off due to a long tonnage list in the Pacific," a shipowner source said. "[Freight derivatives] went up last week in European hours since the Atlantic was very tight on tonnage. But overall sentiment could weaken this week," the source added. During Asian trading hours on July 13, freight forward agreements traded further down from the previous day, dampening sentiment, market sources noted.
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