Why are Capesize dry bulk shipping rates still sliding?

Another day, another downward slip in spot rates for the workhorses of dry bulk shipping known as Capesizes — larger vessels with a capacity of at least 100,000 deadweight tons (DWT), usually around 180,000 DWT.

Capesizes had a great run in the third quarter. Rates rose from $20,000 a day in late June to almost $48,000 a day in early September. But then they came back down to…

View entirety: Freightwaves