Iron Ore's surge, container futures, and the financial report typo that cause a crude spike
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Cape 5TC Retreated From a High of 15625 Last Week to 12675 Value on FIS Live
Cape 5TC retreated from a high of 15625 last week, last Wednesday morning to 12675 value at the moment on FIS live. The Q4 seasonally, the strongest period for capes and therefore usually the strongest contracts when we look at that forward curve also dropped by about 1000 week on week trading 15 550 value today. Front hole rates peaked at nearly $19,000 a day on Friday with the overall five TC index hitting a high of 9,906 last Thursday. Even more ships now being returned to the market because of Russia's decision to end that Black Sea grain deal with Ukraine. That is putting further downward pressure on rates at the moment.
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