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• Suggestions of recovery for Capesize freights (13 May 2025)

  Capesizes can’t be held down for long with the week starting on a decidedly positive note and every Cape route—TC and voyage—showing some degree of improvement from levels before the weekend. Even if the moderate US$ 100-300 rise in time charter rates does not suggest a full recovery just yet, owners are optimistic that more of the same is on the way. Pacific RV rates pick up more than US$ 200 day-on-day to move toward US$ 14,000 daily on sizes of 180,000mt with eastern sentiment warming up. Panamaxes again play their reliable role as the flip­side to the Capesizes with a minor downturn in rates providing a mirror to the recovering Capes. Only mild discounts of US$ 100-200 are being noted on time charter basis (TARV rates are still in the US$ 12,000s), but owners are putting a brave face on it in the hopes that early week jitters will be shaken off and new cargoes will put the wind back in the sails of the mid-range bulkers. Front haul on units of 82,000 dwt have dipped slightly into the high US$ 18,000s. (For news & updates on dry bulk shipbroking, subscribe to the BMTI Daily Report.)

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