Rates for capesize bulk carriers fell steadily this week while those for handysizes reached new heights for the year.
The weighted time-charter equivalent (TCE) average for the massive ships dropped 31% to $17,284 per day from the rate achieved a week ago, according to Baltic Exchange assessments.
"The capesize market had the stuffing knocked out of it this week as the 5TC dropped from $25,085 down to $17,285," the exchange said in its weekly market round-up.
