The Capesize market peaked mid-week from its recent rally as the 5TC marked down -$1344 on the last day of the week to settle at $40,035. A tonnage tightness in several positions, particularly in the north Atlantic, led to gains early on in the week. However, sustained downward pressure from the Pacific and Ballaster routes took its toll as the week progressed. The West Australia to China C5 closed out at $13.732. And while the route suffered substantial losses to end the week, there is said to be tightness on loading position in the nearby dates. The Transpacific C10 now rates $39,308, while the China Brazil China ballaster route C14 now rates at $27,268 to the Transatlantic C8 at a stronger $52,750. The Brazil to China C3 heading into next week will largely be focusing on loading dates in the new year.
