Dry bulk shipping’s capesize and panamax spot markets have weakened since Monday, perhaps heading into correction after rallying over the past several weeks, market watchers said.
The Baltic Exchange’s capesize 5TC, which averages spot rates across five key routes, has fallen 13.4% over the past two days to $33,069 per day on Wednesday.
The spot rate for the C10 transpacific round voyage between China and Australia slid 13.4%
