Freight rates drop in Pacific, Atlantic Capesize markets

摘要

Singapore—The freight rates of the Capesize markets dropped for a third consecutive day this week in both the Pacific and Atlantic basins. In line with the physical market, the FFA market extended losses during Asian trading hours amid thin liquidity. “Seems a lot of cargos there, but not many fixtures done today amid standoff [between owners and charterers],” a Capesize shipowning source said. The bunker market witnessed a strong rebound finally, but it failed to turn around the spot freight market.