This weeks declining rates continue to impact the dry bulk segment, says Fearnley in a new analysis.
"Capesize rates are still plummeting, upon negative developments in all areas. Despite some activity in Australia over the last week, volumes have not been sufficient to support shipping rates. Combined with a lack of transatlantic cargoes and no Brazil – China cargoes the situation looks dark. Rates are now down to USD 12,588/day," says the analyst agency.