Capsize Market Tumbles Following Poor Demand

Pacific Capesize rates plunge sharply in July amid excess vessel supply due to lack of demand.
Sharp fall in Capesize time charter equivalent rates in July after breaching the key $30,000/day level in end-June amid availability of spot vessels for trips within the Pacific.
The time charter equivalent rate for a non-scrubber fitted Capesize vessel opening in north China to move iron ore from Western Australia to China was at $15,109/d on July 21.
This is down about 58% from $35,716/d noticed on...