Like a weary boxer, the Capesize freight market crumbled just before the knockout blow of escalating US - China tension.

Eagle Bulk Shipping is the latest owner to announce it is opting for scrubbers as part of its plans to comply with the IMO's 2020 sulphur cap with an agreement to buy up 37 units.

US-listed shipowner Star Bulk Carriers is continuing to expand its fleet with the acquisition of up to seven vessels from ER Capital Holdings.

The Baltic Dry Index (BDI) was off to a good start this week as the index pushed toward the 1,740 readings, thanks to the positive market sentiments from the higher freight derivative markets.

The Baltic Dry Index (BDI) started last week on a firmer footing despite the trade tensions between US, China and Turkey that waned investors’ confidence.

The freight market seems rosy this week with the Baltic Dry Index (BDI) surging toward a multi-year high.

After the final whistle was blown on the World Cup tournament, the Capesize market seemed to morph into an on-form goal scorer with sights set to cross the $25,000-mark in the Capesize 5 time charter average rates.

After experiencing a good run last week, the Capesize market stumbled at the opening of the week but subsequently recovered some of the lost ground by mid-week.

Newbuilding orders across most shipping markets have started to drop off after a whopping $10bn was committed in the first quarter of 2018, but the prevailing trends suggest little has changed from the boom and bust cyclical mentality of ship owners aided and abetted by the prevailing attitude of financiers, according to VesselsValue.

The capesize market has surpassed expectations amid the World Cup lull, posting higher rates as activities picked up across all the Asia-Pacific routes.

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