A key capesize spot rate assessment in the Atlantic took a historic one-day plunge on Wednesday as market experts pointed to a growing list of unemployed bulkers in the region.
The Baltic Exchange’s assessment of a transatlantic round-trip voyage dropped $10,600 per day, or 15%, in 24 hours in what shipping-focused asset management firm Breakwave Advisors described as the second-largest daily plunge on record for the indicator.
