The capesize bulker market sustained a second consecutive day of significant decline on Wednesday as the Atlantic and Pacific basins saw less activity.
The Baltic Exchange’s Capesize 5TC basket of spot-rate averages across five key routes dropped 17% on Wednesday to $2,630 per day, after falling 29% on Tuesday.
“A significantly more muted day than yesterday with less activity reported in both basins,” Baltic Exchange analysts wrote on Wednesday.
