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You are here: Home → Archive → 2009 → July → Weekly Edition 16th of July 2009 → Capesize rates plummet despite fixture flurry

Capesize rates plummet despite fixture flurry

by Keith Wallis, Hong Kong — last modified Jul 16, 2009 05:47 PM

THE LONG-anticipated drop in the capesize market has begun after rates fell dramatically after weeks of buoyant prices.

Brokers concluded the capesize sector was over-tonnaged, with a flurry of fixtures from Brazilian iron ore producer Vale actually pushing down rates, they said.
“The rot in capesize rates has started and the best market this year is over,”...

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