Baltic Exchange Shipping Insights

A roundup of the week's tanker and dry bulk market (July 10, 2020)

Published Sun, Jul 12, 2020 · 09:50 PM

Capesize

This week witnessed the dreaded correction in the Capesize market, with the timecharter average shedding almost 18 per cent to close the week at $27,644. But in recent context, this cannot be considered as anything other than healthy. The Pacific round - and the backhaul - proved to be the biggest drivers. Both lost approximately 25 per cent on the week, although all routes posted losses - including the crucial Brazil round and north Atlantic fronthaul, which dropped 19 per cent and 13 per cent respectively on the week.

Polling day in Singapo…