The demand for dry bulk capesizes was determined by the world economy, especially its basic industries.
Over 85% of the cargo carried by capesizes was iron ore and coal.
Production and demand for these products increased in a strong economy.
Changes in trade patterns also affected the demand for capesizes.
For example, if a Western European country decided to switch its supply of iron ore from the United States to Australia, the demand for capesizes would increase since the distance between Europe and Australia is greater than the distance between Western Europe and the United States.