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Dry Bulk Capes International

Easing capesize congestion adds to rates pressure

Congestion and inefficiencies in the fleet combined with strong demand for seaborne transportation tightened the market and sent spot rates spiralling upwards earlier in the year. Among other factors, a slight unwinding of that position has added to a recent softening in rates

  • Analysis

Besides a small unwinding of capesize congestion outside China, the market slump has been caused by a slowing in the world’s second-largest economy combined with lower exports of iron ore from Brazil. The forward curve is also currently leading sentiment in the physical market

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This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call UK support at +44 (0)20 3377 3996 / APAC support at +65 6508 2430

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