The capesize bulker market should return to the lows seen about two months ago by late December if the futures market is any indication, a sector pundit has observed.
The Baltic Exchange’s Capesize 5TC basket of spot rates has reversed course since climbing steadily from $8,300 per day in early September to more than $31,000 per day in mid-October.
It retreated to just under $27,200 per day on Tuesday, and that figure should continue to tumble for weeks as the paper market has remained bearish despite the spike, said Breakwave Advisors, an asset management firm that runs an ETF-traded fund focused...
