Capesize freight returns below operating expense levels, but shipowners reject lay-ups

The Capesize market has fallen considerably below operational expense levels during the second quarter, eluding seasonality patterns that play a key factor influencing the dry bulk markets, but shipowners are unwilling to lay-up their tonnage. Despite the paltry returns currently accrued from operating their ships out of the Pacific and Atlantic regions, shipowning sources confirmed …

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