Capesize bulker rates down nearly 20% this week but outlook looks positive

Spot rates for capesize bulkers slid throughout the past week but should rise this coming week after hitting bottom, industry experts say.

The capesize 5TC, a spot-rate average weighted across five routes, declined 18.3% over the past seven days to $20,933 per day on Friday, pulling the greater market down with it despite rate gains in the smaller asset classes.