Capesize

172,000 dwt (Approx. 165,000 tonnes cargo)

So-called because they are too large for the Panama Canal, Capesizes are the workhorses for supplying raw materials for the steel industry first, and the coal power industry second. Iron ore, coking coal and steam coal account for nearly all of the cargoes carried.

Freight is a relatively large component of the C&F value of the cargoes in this sector, and can be the deciding factor for a sale.

FFAs are vital to these industries as they provide the ability to hedge and trade on a financial basis only. The most frequently traded routes are C4 and the average of the 4 timecharter routes. Every attempt is being made to widen access to trading other routes in the BCI.

Estimated volume of FFAs pa:
		350 million tonnes
		Average total tonnes carried by each vessel pa: 1 million tonnes
		Total number of vessels (140/180kt dwt): approx 500.