The capesize bulker sector continued falling on Tuesday amid January's rough weather, but futures suggested better days to come in the near future.
The capesize 5TC — the weighted average of spot rates across five benchmark routes — dropped 10.5% since Monday to $10,913 per day, according to Baltic Exchange data.
"I do expect such an environment to persist for the foreseeable future, but once we get past those tough months, the balance of the market favours higher rates," Breakwave Advisors founder John Kartsonas told TradeWinds.
