Freight rates for Asia-Pacific regional and Atlantic Capesize routes continued to rally June 17, with significant gains seen on some routes. Adding to the sentiment was a skyrocketing paper market, which strengthened owners’ confidence and firmed the upward momentum. “There is quite a lot of talk going around and each fixture reported is higher than the last, so it’s definitely helping market sentiment and the expectation is for it to grow stronger,” said a shipbroker source, adding that the Capesize freight market is flying on all the routes.
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