Seasonality and inclement weather should continue to weigh on dry bulk shipping for the next few weeks, particularly the capesize sector, according to market experts.
The prediction comes as the capesize 5TC, a spot-rate average of key routes for this dry bulk asset class, slid 9% on Tuesday to $19,284 per day, according to the Baltic Exchange.
The C10transpacific roundtrip, which takes iron ore from Western Australia to China, saw the greatest drop, falling 22.4%
