The market in the Middle East was unmoved this week, with Chinese refiners continuing to slow imports, allied with the impact of the Coronavirus and the return of the previously sanctioned Cosco...


The Capesize market endured another dreadful week of calamitous rate level falls, as the usual season low Q1 period combined with recent global events to stifle demand.


The week proved conspicuous for all the wrong reasons. This was the week when the Baltic Capesize Index (BCI) turned negative, closing at -20, whilst the average of the routes settled at $3,973...


The market endured heavy losses throughout the past week, with the Capesize 5TC dropping from $8,352 to $4,772.


The market was relatively stable over this past week putting an end to the past months of more extreme declines.


Closing out the first full trading week of 2020, the Capesize market is struggling to gain any solid positive upward traction.


The New Year started with an erosion on pre-Christmas rates as the higher low sulphur fuel costs due to IMO 2020 affected levels. From Brazil the route is now assessed at close to $18.50, whilst...