Capesize market slowed after the recent rally in shipping rates, as trade sources seek for clearer market direction ahead.
Capesize freight rate reached another low due to bearish market sentiment in both the Pacific and Atlantic basins.
It was another ugly day for the Capesize market as rates continued to deteriorate from oversupply of vessels and low shipping demand.
The deterioration of Capesize market had led to the surprise of many trade participants as there was still some healthy volume from west Australia.
Capesize paper market continued its downward trend on a short trading week, and gloomy freight outlook.
Capesize paper market slid from sell off pressure as losses extended across both the Pacific and Atlantic basins.
Capesize paper market came under pressure due to low physical fixtures and weakness in both basins.
Capesize paper market slid on the absence of Chinese trade participants as they began their week-long holiday in early May.
The Capesize paper market continued its downward slide as Asian holidays prepared to get into full swing.
Capesize paper market slid to downward trend on limited activities ahead of the May Labor holidays.