Capesize market ends week on soft note

摘要

Singapore—Capesize freight rates inched down in the run up to the weekend, amid thin liquidity on both physical and paper markets. “Seems the market is adjusting a bit,” said a Greek shipbroker. Market players held mixed views and preferred to wait till next week. “It should be known to the market that there has been a rise in the usage of Capesize ships for cargoes that would have been loaded by either Panamaxes or Handysize ships, thanks to the strong rates observed for those smaller sizes compared with the Capesize,” a shipbroker said, adding that there could be a further push on Capesize freight rates due to the increasing competition from charterers.