Slower fleet growth linked to capes’ rate surge
Capesize rates have been surging because fleet growth slowed dramatically during the last few months, leading to fewer vessels being available to carry cargoes, according to fresh analysis of the market.
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Capesize deliveries in August equalled the number of capes that were scrapped from the market; eight new capes were added, eight old capes were removed from the fleet, says analysis by Commodore Research & Consultancy.
Then, a month later, the capesize...
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