Capesize rates should head back up by the end of this year, having fallen considerably over the past two weeks, Genco Shipping & Trading's John Wobensmith says.

They have slid 28% to $23,782 per day since 22 July amid several factors, including return of tonnage to the Atlantic basin, US-China trade tensions and falling iron-ore spot prices.

"It seems to be settling out," he said during today's second-quarter earnings call.