The capesize bulker sector has taken a tumble over the past two days amid jitters concerning China and Brazil.
The capesize 5TC, a spot-rate average weighted across five key routes, declined 9.5% on Wednesday to $25,406 per day after falling 9.8% on Tuesday.
The average spot rate for the benchmark China-Japan transpacific roundtrip voyage put the most downward pressure on the capesize rates, as it plummeted 28% over the past two days to $23,596 per day.
