Capesize rates are into a third week of steady declines after reaching a height not seen in years but should stay well above year-ago levels, analysts say.
The average daily price for such a massive bulker has slid to $31,470 from $38,014 on 4 September but should keep above $25,000 through 2019, Jefferies analyst Randy Givens said.
"We have a long way to go to reach the pre-Vale levels, which were less than half of current spot rates," he told TradeWinds.
