Dry cargo market report dated 19 April 2024
22 April 2024Capesize: The Capesize market witnessed an eventful and generally positive week.
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Capesize: The Capesize market witnessed an eventful and generally positive week.
Capesize: The Capesize market faced a challenging week characterised by significant fluctuations.
Capesize: The Capesize market had a positive opening on Monday followed by consecutive declines on the timecharter routes.
Capesize: The Capesize market began the week at the summit of the recent rally.
Capesize: The surge in Capesize rates abruptly flattened off this week as global markets continue to be highly volatile.
The Capesize market had a mild trading range this week hitting a high of $15,258 and a low of $13,414 to settle Friday at $13,560. While events in Europe have been disruptive, the trading activity was generally back to normal this week as most shipping routes are business as usual - albeit without the Black Sea trade routes.
Capesize: The Capesize market continued its bull rally this week as we move into the tail-end quarter of the year. The Capesize 5TC managed a high of $86,953 on Thursday before closing out the week on a softer note at $83,865. The weekly dry bulk market report contains a summary of the recent movements in the market, alongside the latest figures for average dry bulk earnings and Baltic Dry Indices.
In the coming months, BIMCO’s Chief Shipping Analyst, Peter Sand, will participate in BIMCO’s very own webinar series: The Shipping Markets Checkpoint: threats and opportunities in a COVID-19 world, as well as numerous insightful virtual conferences focusing on the commercial shipping markets.