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Capesize freight rates fell sharply in the week to September 13 as paper and physical markets both weakened. The Capesize 5 time charter average dropped to $16,559 on Wednesday, down $1,810 from Monday, amid a vessel supply glut and concern over new US tariffs on Chinese imports.
Weaker Capesize rates mainly reflect iron ore and coal trade, so the direct effect on feed grain freight is limited, though the tariff escalation adds to uncertainty in Chinese import demand.
seatrade-maritime.comMarcus HandSep 13, 2018Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
