Singapore—The declining trend in the Capesize freight rates continued on July 14, on the back of a supply overhang while demand from spot inquiries remained thin. "There is no real liquidity to really get the market direction clearly," a ship-operator source said. "I am a bit more optimistic for September-October than for August," a shipowner said while adding that the Capesize market has not seen the last rally for the year as yet. "Also don't think it is going to be a one week correction after which the market will go up as fundamentals for spot dates is for sure weak," the shipowner added.
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