Dry bulk blues continue to wail as capesize rates for the troubled sector take a beating.
Clarksons Platou Securities lowered the 2020 rate forecast by 37% to $18,000 per day, based on a weaker 2019 first-half outlook that fell as harshly to $14,000 per day in September 2018's shipping biannual report.
"Freight rates fell off a cliff in January 2019 even before the problems in Brazil, indicating low import demand in China," analyst Frode Morkedal wrote in a note to clients.
