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.

Capesize period rates have moved down this week off the back of falling spot rates as demand has slowed.

Capesize period rates remained firm this week and a few period deals have been reported ranging from one to three years.

As the BDI has continued to rise over the past week, this has given a boost to the capesize period market where activity levels have improved, with interest in longer fixtures around the three-year mark.

The Capesize spot market has risen this week following a negative run. However, this uptick has yet to translate to the period market which has seen very little activity.

Whilst the spot market continued to fall this week, period rates for capes have remained stable although activity levels have been low.

The capesize period market softened again this week with very little Brazil-China trade and Vale absent from the market.

Capesize TC rates have fallen slightly this week, there has been some interest in short period fixtures.

Capesize period rates for one- year dipped slightly this week and although period fixture levels remained low, sentiment seems to be improving as spot rates moved up somewhat.

There capesize period market experienced some downward pressure this week.