All major segments of the dry bulk spot market declined this past week as shipping continued returning to a pre-pandemic world and shipowners kept their fleets in the Pacific basin instead of ballasting them to the west toward the Americas.
The Baltic Exchange’s Capesize 5TC set of spot rate averages across five key routes declined 13.9% since over the week to hit just under $17,500 per day on Friday, while the Panamax 5TC slid 13.2%
