Capesize rates cut in half in just a few months: "The spell is wearing off"

After peaking in July, rates for the large capesize dry bulk vessels have now gone down again. The dry bulk market is fundamentally strained, says Bimco.

Photo: PR/Golden Ocean

If the dry bulk ship operators were hoping for a recovery in the wake of an overall challenging half year for the sector, they should arm themselves with patience for now.

In just two months, rates for the large capesize dry bulk ships have been cut in half. From the ships in early July reaching the highest level so far this year, at around USD 34,000 per day, the latest numbers of Tuesday showed a level of just USD 16,000 per day.

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