The capesize market has come back stronger following the Easter break as demand improved on the main routes. Period activity has remained low but rate ideas have increased and the average for one year is currently estimated as $12,875/pdpr.

Market activity has improved this week with interest from West Australia to China and Brazil to China routes but still very little reported in the way of period fixtures and rates moved sideways.

The Baltic Capesize Index (BCI) has finally moved back in to positive numbers however the period market has seen very little activity and rates moved lower for all periods.

Although still in negative territory, the Capesize market moved up this week with activity from on the West Australia to China route. However, period fixtures remained at very low levels.

Capesize period activity levels have been very low this week and rates moved sideways as the impact of the covid-19 virus continues to weigh heavily on markets and global demand.

The capesize period rates moved up slightly due to sentiment from crude although with so much uncertainty in the market it is hard to get excited about any changes in the market.

Macroeconomic pressures continued to weigh heavily on the capesize sector, a few short-term period deals have been reported that provide cover from the spot market as the BCI remains in negative territory.

Global issues continued to put pressure on the capesize market as fears of the impact of the coronavirus continued to weigh heavily on the larger sizes this week and TC rates remained flat.

The capesize period market remained flat with very few TC fixtures reported, the average rate for a cape for one year is estimated as $14,925/pdpr.

There are hopes that the capesize market has finally bottomed out as the BDI ticked up very slightly this week and on the period side, a couple of fixtures were reported around the one-year market although levels remain low.

Fears over the impact of the coronavirus on global trade, coupled with the extended Chinese New Year break, implemented by the chinese government as a measure to contain the spread of the Coronavirus, have put pressure on the capesize market and the BCI plunged to a historical low.

The capesize market continued to fall this week with very little in the way of period activity, the average rate for a capesize for one year is currently down 14% from the start of the year to $12,500/pdpr.

Unsurprisingly the capsize period market has been slow as is usually the case this time of year in the weeks running up to Chinese New Year.

The dry bulk market has faced additional pressure this week and rates have continued to fall, the timecharter market has been no exception and capesize rates have fallen across all periods, with little signs of recovery in the coming weeks due to the impending Chinese New Year celebrations.

The year has commenced with the capesize period market falling in line with a significant drop in the Baltic indices, as is usually the case this time of year in the weeks running up to Chinese New Year.