Capesize rates declined this week while the futures market continued to slide through early next year.
The weighted time charter equivalent average rate for the big ships fell to $12,498 per day on Friday from $14,421 per day a week ago, according to Baltic Exchange assessments.
Freight-forward agreement (FFA) rates for November lost $600 per day on Friday to land at $13,444 per day, while those for December dropped $607 per day to $13,406 per day.
