Capesize freight rates trend lower; owners seek cover

摘要

Singapore—Capesize freight rates dropped Feb. 8 with offers heard lower than the week ended Feb. 7. Activity remained fairly thin both in the Pacific as well as the Atlantic basins. Freight derivative rates moved lower during Asia trading hours, market sources said. "Would think the Pacific [rates] are steady," a shipbroker source said. "But the overall market sentiment is driven by demand out of the Atlantic basin, especially now that coking coal into China is nonexistent [in the Pacific]."