Capesize freight rates came under pressure on bearish market sentiment and oversupplied shipping market. The Capesize 5 time charter average then dropped by RMB 754 day-on-day to $14,691 on Wednesday, following the selling pressure in the market. The Baltic Dry Index (BDI) then slipped by 3.09% or 39 points to 1,224 readings on weaker Capesize …
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