Capesize freight rates move sideways on key routes

摘要

Singapore—The Capesize freight market moved sideways against a backdrop of a few fixtures concluded on the key west Australia and Brazil to China routes. However, the Capesize freight forward agreement (FFA) segment was heard to be weakening. “The Capesize market turned boring again today; it's not very liquid but we can feel the market seems [to be] losing steam,” a Chinese ship-operating source said. The bunker market was well supported by a thriving oil price, but it failed to push up the shipping market, a Capesize shipowner said. With demand out of Brazil subdued and the ballast list lengthy, the time charter equivalent rate for Brazil round trips was $2,000-$3,000/d lower than the Pacific round trips, market players said.