Dry Bulk report

It was a Brazilian affair with a strong splash of bunkers characterising the Capesize market over the past week. Largely traded in European hours, ballaster tonnage was being secured for an ever tightening window at the end of July. The C3 opened the week at $22.195 to close at $23.864. The lift
in voyage rates across the indices on Friday was thought to have been substantially affected by the bunker market, which has been highly volatile this week, particularly in Asia, pushing vessel operating costs up. Trading activity on the West Australian C5 route was relatively mild, with sporadic trading from charterers. The route opened the week at $9.15 to close at $9.509. The Atlantic basin remains tight, although rumours for more competitive offers are being heard in trading. The C5TC continued its rise, closing out on Friday at $27,389 surpassing highs of 2018 while still looking stable and supported.
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