November 2022

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18-November-2022

The Baltic Exchange’s Capesize 5TC (Capesize Bulk Carriers Spot Rate Averages Across Five Key Routes) plummeted 27.3% since 11 November 2022 to $9,305 per day on Friday. The Baltic Exchange’s Capesize C5 iron-ore route from Western Australia to Qingdao, China plummeted 11.3%. The spot rate market for capesize bulk carriers plummeted last week due to China’s economic uncertainty continued, while that for the panamax, ultramax, and supramax bulk carrier spot rates stagnated due to light chartering activity.