Average capesize spot rates have fallen by almost 20% in 10 days as the fourth quarter continues with more of a whimper than a boom.
Fixing activity by major miners in the Pacific remains steady, but the Atlantic market remains in the doldrums.
And capesize owners must now contend with the prospect of cargoes being split across two panamaxes as falling rates for the smaller vessels make it cheap enough to do so.
