Capesize rates tumble in volatile freight market

摘要

Coal capesize rates crashed lower on spot market inactivity and more available tonnage across the course of the week ended Nov. 2, while rates for panamax vessels marked less acute losses. Rates along the Puerto Bolivar-Rotterdam route for capesize vessels dropped sharply through the week, slipping from 47.00 dollars/metric tonne (mt) on Oct. 29, tumbling through the 45.00 dollars/mt level Oct. 31, and landing at 44.85 dollars/mt on Nov. 2. Rates for the larger vessel class originating in Richards Bay and traveling to Rotterdam lost nearly 7pc over the course of the week, slipping from 49.00 dollars/mt on Oct. 29 to 45.70 dollars/mt on Nov. 2.