[av_heading heading=’Dry bulk carrier rates firming on increasing demand’ tag=’h3′ style=’blockquote modern-quote’ size=” subheading_active=’subheading_below’ subheading_size=’15’ padding=’1′ color=” custom_font=”][/av_heading]
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21 November 2016
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Capesize rates have made a “big jump” on the back of rising demand, according to Fearnleys. On the C3 iron ore route between Tubarao, Brazil, and Beilun/Baoshan, China, rates are in excess of US$13 per metric tonne (pmt) with round trips approaching US$20 000 daily.
“Best of all; there is still potential for future improvement,” Fearnleys said.
Supramax and panamax markets are also firming with a “massive upswing with a flurry of fresh and old requirements giving owners a return not seen for a long time” in the panamax market, Fearnleys said. The north Atlantic in particular is “burning hot” with rounds done from US$12 000 to US$16 000 per day.
One year time charter rates all hit yearly highs, while the Baltic Dry Index hit 1145, compared to 954 the week before.
Source – Dry Bulk Magazine
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