October 2024

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21-October-2024

Capesize bulk carrier spot rates have dropped below $19,000 per day as optimism about China diminishes. The average capesize bulk carrier spot rates decreased for the fifth straight trading day on Monday due to a lack of positive developments. The combined average assessment of capesize bulk carrier rates, based on five key benchmarks, dipped below $19,000 per day for the first time since August 1, 2024. Baltic Exchange panelists reduced their estimate by $701, bringing the rate to $18,174 per day.