Pacific Capesize market sees freight rates extending loss, Atlantic muted

摘要

Singapore—The Capesize market saw freight rates extending loss mid-week in the Pacific side on the back of the escalating coronavirus lockdown, while Atlantic basin was muted. Market outlook for the physical segment was bearish for second quarter amid a soft paper market. Market participants were taking a wait-and-see approach to find their direction in the situation. Declining ballasting interest from shipowners was witnessed, as more port disruptions were expected, not only limited out of South Africa and India.