Dry bulk carrier rates firming on increasing demand

21 November 2016

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