Shipping: Dry bulk freight rates at 3-year low on surplus tonnage, weak demand

The global dry bulk freight market -the largest commodity shipping segment by volume- has witnessed a rocky start to the year with earnings sinking and demand for moving raw material looking anemic.

The time charter equivalent (TCE) rates assessed for Capesize, Panamax and Supramax vessels were much lower in the first week of 2020 compared with the rates registered during the same period over the past three years.

The fall in rates was…

View entirety: Platts