A slide in capesize spot rates extended today to continue what has been a quiet start to this week.
Rates lost over 3% to $11,557 per day, with brokers noting a shortage of fresh cargoes out of South America.
Glenn Lodden, an analyst at ABN AMRO, says the slide comes at a time when charterers are “staying on the fence”.
Clarksons Platou Securities analysts Frode Morkedal and Herman Hildan said capesize rates remain under some pressure due to a rather quiet market in both the Atlantic and Pacific basins.
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