Weak iron ore spot pricing drags down Capesize freight rates

摘要

Freight rates for the Asia-Pacific and Atlantic Capesize markets fellacross all routes Wednesday. Industryparticipants attributed the drop to theweaker freight derivative market rates andfalling iron ore prices."No one has a crystal ball to say what'sthe best decision to take in this market,"a source with a ship-brokering firm said,adding, "On the one hand, rates have beentrending downward for the past one and a halfweeks. So the longer they hold on, the lowerthe rates become, but with rates being so low,some hold on to a sliver of hope that there willbe a rebound."