Singapore—The Capesize freight market was flat amid a flurry of fixtures concluded on the key Brazil-to-China route, while the Pacific was sluggish. Some sources said that the fleet inefficiency caused by port congestion in China, as well as the longer time for crew replacement in the Philippines, would support the market, though the lengthy ballasters’ list is still depressing freight rates. “Don’t see that much change from yesterday but [the freight rates] maybe a touch softer,” a ship-owning source said.
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