Rates for capesize bulkers on transpacific round-trips plummeted on Thursday, halting the bull run in the Baltic Capesize Index that has been ongoing since late last week.
Spot rates on the China-Japan transpacific round-trip (C10) between South America and Asia were assessed 6.6% lower on Thursday at $77,723 per day, according to Baltic Exchange data.
By comparison, the benchmark round-voyage from China via Brazil lost only $159 per day to come in at $64,255 per day.
