Capesize index falls 26% over the week but market stays optimistic
The capesize segment has continued to cool since last week and was down by 26% week on week. However, market participants are optimistic that shipments from Australia and Brazil to China will provide the market with the required uptick in rates
China, which is of course the most important economy for dry bulk demand and especially capesizes, will remain the shinning star for the coming year, according to the International Maritime Fund. China’s growth is having a positive spillover effect on commodity prices, providing encouragement to dry bulk freight rates.
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