Spot rates for capesize bulkers has fallen significantly over the past week amid seasonality and a supply imbalance between the Atlantic and Pacific basins.
The capesize 5TC, a weighted average of spot rates on five key routes, dropped by 19% to $12,662 per day on Friday, according to Baltic Exchange assessments.
The rate for the benchmark Brazil-China round-trip voyage dropped 12% to $11,745 per day, while that for the Europe-China leg, by comparison, slipped 9.4%
