Nov. 21 Daily Dry Bulk Comment


Capesize rates decreased today by almost as much as they increased on Wednesday. Charterers have pushed back against owners' bullish views on the market, and for now they have been able to secure cheaper freight rates. A firm amount of iron ore cargoes have continued to come to the market, however, and demand for capesize rates has stayed strong. In the panamax market, a large amount of thermal coal cargoes have come to the market and has allowed panamax rates to remain flat. Supramax and handysize rates have continued to find a small support as coal, grain, and minor bulk cargo trade has stayed firm.

Source from : CNSS