Capesize refers to a class of large bulk carriers that are too big to transit the Panama Canal, requiring them to navigate around the Cape of Good Hope or Cape Horn. These vessels typically have a deadweight tonnage (DWT) of over 150,000 tons and are primarily used for transporting commodities like iron ore and coal.
Due to their size, Capesize ships are often subject to specific market dynamics and freight rates. They play a crucial role in the global shipping industry, impacting the supply chain for major economies that rely on raw materials, such as China and India.