Pacific, Atlantic Capesize markets see sluggish opening day

摘要

Singapore—The Capesize market saw a sluggish opening day of the new trading week in both Pacific and Atlantic basins on the back of softening bunker market. The Capesize physical freight market was gloomy amid the weak shipping demand. The freight forward agreement, or FFA, segment opened on a bearish note and market participants stayed on the sidelines on Monday. The wide spread of coronavirus clouded the global economy and more counties had taken precautions regarding the coronavirus pandemic.