Capesize freight rates drop on key routes

摘要

Singapore—Sentiment among Capesize owners cooled March 23 as the freight forward agreement market took a nosedive. “All [shipping segments] did perhaps go up too high, too fast,” a Capesize ship-operating source said, adding that the correction on the FFA market was reasonable. For the physical segment, there was slightly more activity in the Pacific basin during Asian trading hours, while the Atlantic market was subdued. “Paper [market is] crashing, so maybe all parties will be on hold for a little while,” a shipbroker said.