Baltic Exchange Shipping Insights

DRY BULK REPORT

Capesize

The market trended down over this past week, breaking it out of its upward trending range.

While the market traded sideways at the beginning of this past week, it was unable to build any upward momentum and broke to the downside midweek.

Brazil to China C3 opened the week at $25.89 to close out Friday at $23.705, while West Australia to China C5 opened at $10.923 to close at $9.145.

Trade activity was moderate throughout the week in the Atlantic, while quieter in the Pacific.

Bunker pricing for traders was a wild ride this week as fuel markets absorbed possible scenarios of war risk footing in the Persian Gulf.

Prices lifted drastically leav…