Pacific, Atlantic Capesize markets see freight rates rise consecutive days

摘要

Singapore—The Capesize market in the Pacific and the Atlantic saw freight rates keep pushing up for the fourth consecutive day on May 21 amid buoyant iron ore shipping demand on the back of robust iron ore prices. A bullish bunker market also added to the positive sentiment and supported the freight levels. The market was largely driven by a busy Western Australia-to-China iron ore route during Asian trading hours, while the Atlantic basin seemed to be in a stalemate amid a significant spread between offers and bids. Overall, the Capesize market remained hot with bullish sentiment May 21, but participants doubted if the market fundamentals are solid.