Capesize owners are starting to accepting the new reality, broker says
A weaker paper market especially for the first quarter next year is dampening activity in the period market for capesize bulkers.
The future market for the first three months of 2018 is trading at $11,400 per day, around half of the current spot market.
But some deals are being concluded as owners and charterers appears “to be accepting realities”, one capesize broker commented.
Sinotrans has secured a rate of $16,000 per day for the 178,000-dwt Great Yuan (built 2010). The ship is fixed by Classic Maritime.
Classic has also taken the 176,000-dwt Annou Max (built 2011) from Gleamray Maritime for three to five months at $18,000 per day.
The average spot market rates for capsizes stood at $20,800 per day Wednesday for panamaxes $10,600 per day and for supramaxes $10,100 per day.
source: www.tradewinds.com
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| Dry cargo rates have eased off this week, according to data from the Baltic Exchange. Photo: Julian Bray |
A weaker paper market especially for the first quarter next year is dampening activity in the period market for capesize bulkers.
The future market for the first three months of 2018 is trading at $11,400 per day, around half of the current spot market.
But some deals are being concluded as owners and charterers appears “to be accepting realities”, one capesize broker commented.
Sinotrans has secured a rate of $16,000 per day for the 178,000-dwt Great Yuan (built 2010). The ship is fixed by Classic Maritime.
Classic has also taken the 176,000-dwt Annou Max (built 2011) from Gleamray Maritime for three to five months at $18,000 per day.
The average spot market rates for capsizes stood at $20,800 per day Wednesday for panamaxes $10,600 per day and for supramaxes $10,100 per day.
source: www.tradewinds.com