Capesize
Capesize is the largest standard class of dry-bulk carrier — typically 150,000 deadweight tonnes and above. The name reflects that these ships are too large to transit the Suez or Panama canals (laden) and must instead route around the Cape of Good Hope or Cape Horn on their main trades.
Capesizes are dedicated overwhelmingly to the iron ore and coal trades, carrying huge cargoes on long-haul routes such as Brazil and Australia to China and the rest of Asia. Because their fortunes track steel and power demand, Capesize freight rates are especially volatile and closely watched — they are the heaviest-weighted segment in the Baltic Dry Index and a barometer of heavy-industrial activity. They can only call at deepwater ports and dedicated bulk terminals. Capesize sits at the top of the dry-bulk size ladder above Panamax and Supramax/Handymax, and is central to the seaborne trade in the raw materials of steelmaking and power generation.
Capesizes move the iron ore and coal that feed the world's steel mills and power stations — in the biggest bulkers afloat, too large for the canals. Their volatile rates dominate the Baltic Dry Index and act as a barometer of heavy industry, making the class central to both dry-bulk shipping and the reading of global economic health.
Why are they called Capesize?
Because they are too big to transit the Suez or Panama canals laden and must route around the Cape of Good Hope or Cape Horn.
What do Capesize ships carry?
Overwhelmingly iron ore and coal, on long-haul routes such as Brazil and Australia to Asia.