The spot market for capesize bulkers is doing quite well as of late, but the futures market on Wednesday headed in the opposite direction.
The Baltic Exchange’s Capesize 5TC set of spot-rate averages across five key routes rose 6.5% on Wednesday to top $17,100 per day, maintaining a steady climb that began on 5 September at $8,266 per day.
But the capesize forward freight agreements (FFAs) fell across the board on Wednesday, led by October contracts losing $1,107 per day to land at nearly $18,200 per day.
