Capesize rates slipped on the first full business day of IMO 2020 but longterm impact on dry bulk shipping's benchmark figure is still anyone's guess.
The Baltic Index weighted average of time charter equivalent rates declined 16.5% to $11,976 Thursday from the last figure recorded 24 December, a week before the seismic switch.
As of midnight 1 January, the IMO prohibited all ships on the high seas from burning bunker with a sulphur content higher than 0.5%.
