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Capesize: The capesize market witnessed an eventful week. It began energetically in the Pacific, where all three major players actively participated, leading to a positive response to the C5 market.
Capesize: The capes started the week on an upbeat note. All three majors were active in the market at the beginning of the week, resulting in a healthy volume of cargo from West Australia to China.
Capesize: The Capesize market softened this week as global market concern’s kept the headwinds coming.
Capesize: The Capesize market fared little better this week to begin with. However, by Friday green shoots were beginning to emerge as the 5TC saw a low of $13,596 yet closed at $15,460.
Join Peter Sand at the London International Shipping Week, where he will be participating in the Navigating Through IMO 2020 amid slowing growth discussion hosted by Bloomberg Intelligence. The discussion will cover the outlook for the commercial shipping markets, alongside an IMO panel discussion on how to prepare for the upcoming IMO 2020 Sulphur Cap. The event will be followed with a networking reception.
The global economy continues to grow, albeit at a slower pace than previous years. The slower economic development has been difficult for ship owners who, with a severe overhang of tonnage, have struggled with a depressed freight market since the start of the financial crisis back in 2008.
