Surprise jump in Cape rates as week ends (25 Oct 2019)

Sentiment rules for the volatile Capesizes with the end of the week bringing an unexpected bounce-back despite a nearly complete lack of fresh time charter activity in the last previous five days. Trans-Pacific RV freights—which had suffered the sharpest declines in the week—saw the sharpest improve­ments with around US$ 1,000 added to the assess­ment bringing the rates near US$ 23,000 daily. Voy­ages also benefited from the upturn with predictions of continued declines in the RBCT voyages eastward proving premature as rates flattened at US$14.5/mt.

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