Cape freight rates recover slightly

摘要

The cost of Capesize iron ore freight rose yesterday as the increasing cost of bunker fuel spurred resistance among owners and forced charterers to increase their bids. But most market participants felt that the shift in momentum was a reaction to the rapid fall in rates last week - as well as the more buoyant bunker fuel prices - rather than any change to the fundamental oversupply of available vessels across the market and doubted how far rates will increase.