Bad weather and oversupply dampen capesize vigour
Capesize Index has declined around 63.3% over the past year on oversupply of vessels and severe weather conditions in both Brazil and Australia. US tariffs on steel are further dampening cargo interest, and putting pressure for more rate cuts
Rates may fall further, with Chinese demand — a key driver in the capesize sector — likely to remain subdued amid talks of trade conflicts
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