Capesize freight rates trend sideways with limited activity

摘要

Singapore—Capesize freight rates trended mostly sideways on Nov. 6, while market sources said rates were likely close to a short-term floor. "[It] is getting a bit hard to see where [the market] is going," a shipowner source said. "Plenty of vessels were fixed on [Nov. 5]. But, there is still a lot of weakness." "General [sentiment] is still weak, despite derivative rates being steady [on Nov. 5]," a shipbroker source said. He pointed out that the derivative rates for November and December had moved up slightly on Nov. 6. "I don't think the markets are going to go downhill from here for November and December. I guess it has found a floor," the shipowner said.