Spot rates for capesize bulkers have backed off after weeks of steady gains, while panamaxes earnings have continued their upward trend.
The weighted time-charter equivalent (TCE) average for the workhorses on the iron ore trade has fallen 9.4% since Friday to hit $29,610 per day on Wednesday, according to Baltic Exchange assessments.
The exchange's Baltic Capesize Index saw a sharper decline during the same period, falling 19.6%
