The capesize bulker market declined further on Thursday, continuing a three-week downward trend that has been driven in the last two days by Europe’s bountiful supply of coal.
The Baltic Exchange’s Capesize 5TC basket of spot-rate averages across five key routes fell 6.1% on Thursday to $9,487 per day, mostly due to the average spot rate for the round-trip C8 voyage from Brazil to Europe dropping 22.2%
