Capesize rates down
MARKET sentiments in the capesize bulker segment remained downbeat this week as the Baltic Capesize Index dropped through most of the week to close at 895 points on Friday, as compared with 1,023 points a week earlier, down 12.5%.
According to MANA,The fates of dry bulk shipping markets have diverged during week, as earnings of capes and panamaxes fell while those of surpamaxes and handies held firm.“Any sustained recovery in the rates remains elusive as... idle ships keep joining the active fleet,” the broker added.
According to Lloyd's List Intelligence data, the number of laid-up capesize vessels was down to 47 at the beginning of July versus 64 in January this year.