In the initial week of December, the Capesize and Panamax freight markets witnessed a remarkable surge, reaching the highest levels in the past year, signaling unexpected positive sentiment. Capesize rates from Brazil to North China rose by 50%, and Panamax rates from the Continent to the Far East increased by 25%. However, the smaller vessel categories, including Supramax and Handysize, are struggling to gain stronger momentum. Concerns arise about whether this surge in freight rates is indicative of a sustained upward cycle, especially considering uncertainties tied to China's economic recovery. Moody's recent downgrade of China's credit rating adds complexity to the economic landscape and potential global market impacts.

SOURCE:GOOGLE