Baltic Exchange Shipping Insights

Capesize

There was little support to be found for the Capesize market over the last week as dwindling rates and rising bunker prices slashed earnings for owners with the 5TC Weighted Average dropping to $7,390. The Pacific had little further left to drop as the transpacific C10 was priced at sub operating expense levels of $4,200. The Atlantic basin has fared slightly better, yet very few fixtures were heard. The Transatlantic C8 lowered - $8,100 over the week to settle at $11,200.

Fronthaul business was more difficult to place over the week as shorter duration variants were seen to lower their values quicker, while longer haul trips proved more resistant to the negative sentiment. The negative sentiment ultimately proved too much for the C9 route and by the end of the week closed at $27,950, down -$7,825.