The bulker sector has risen from where it was a few weeks ago, but the futures market is indicating a turn for the worse over the next several months.
The Baltic Exchange’s Capesize 5TC, a spot rate average across five benchmark routes, has improved 170% since 12 September to just over $16,900 per day on Monday.
But over the same period of time, November freight forward agreements (FFAs) slipped from nearly $17,800 per day to about $15,100 per day.
