May 3rd, 2018

2018 so far

A Poor Start

After a stellar end to 2017, the Capesize market performed pretty poorly through to mid-April of this year, with the Baltic Exchange 5TCs dropping as low as $7,051/day and the average for Q1, at $13,110/day, 43% lower than it was in Q4 ‘17.  It wasn’t so bad on the smaller vessels sizes, with the Panamax, Supramax and Handysize TC Averages down 4%, 3% and 9% respectively quarter-on-quarter. But what was going on to push Capesize rates down so far?

 

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