The capsizing market experienced multiple fluctuations last week, with the Pacific recognized as the main source of these fluctuations. This week, the Atlantic was in a more stable condition compared to the Pacific, although the lack of continuous movement in this area was evident.
Fluctuations in the Pacific
Initially, the Pacific was under pressure, and rates significantly decreased. However, from the middle of the week onwards, the market gradually improved, and rates moved upward. Continuous participation from mines on the C5 route contributed to this trend, with rates rising from a low range of $18 to about $18.50.
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Stability in the Atlantic
In contrast to the Pacific, the Atlantic had a more stable condition this week. However, rates in this region failed to achieve significant growth, and continuous movement in this market was not observed. This situation may be due to insufficient demand in this area, which has kept rates at the current level.
Overall, the capsizing market faces challenges including severe fluctuations in the Pacific and relative stability in the Atlantic. While the Pacific is facing high demand from mines, the Atlantic needs more movement to join the upward trend.
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