Capesize market opens week with drop in freight rates

摘要

Singapore—The Capesize market had a gloomy opening July 20 with freight rates dropping. Adding to the bearish sentiment was the freight forward agreement market, which lost steam and pulled down the physical segment. “It is not a good start for the new trading week and paper market is diving,” a Capesize ship-operating source said, adding that both offers and bids on the physical market were falling.