Capesize rates have continued to be depressed by lack of physical activities this week. However, the paper market for capesize index managed to turn positive for the first time on Monday since late February 2019.
Seattle-based SSA Marine, a division of Carrix a global multimodal transportation Group, and the Jacksonville Port Authority (Jaxport), in Florida, have signed a long-term agreement for the development and operation of a $238.7m international container terminal.
Capesize market remained quiet throughout the week with thin activities from the Asia-Pacific and Atlantic regions.
Market sentiment for Capesize market was on the rise this week despite the widening gap between the physical and paper market.
It was a quiet week for the freight market which neither the Singapore F1 race nor typhoon Mangkhut hitting Hong Kong and Souch China failed to make any impact.
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.
Certain segments of the secondhand vessels market are set to do very well over the next two years. According to the VesselsValue & ViaMar’s Market Asset Value Forecast for the second quarter, LR1 product tankers, handysize bulkers and panamax container ships are seen benfitting the most from an upturn in market conditions, although all segments are seen rising