23.Jan.2012 | Capes situation
With Chinese markets taking this week off for the Lunar New Year holidays, there is little reason to expect a turnaround in Capesize markets until the beginning of February when Chinese shippers come back to work. Nonetheless, deals are still made in the holiday week, as we have seen in years past. As such Cape freight rates are still low but do seem to have levelled out al least with T/A steady at US$5,000.