ShippingWatch

Bulk carriers: Surprisingly big drop

The significant decline in dry bulk spot rates comes as a surprise to both Copenship and Ultrabulk, both of which experienced worse first quarters than expected.

The declining spot rates in the dry bulk market have come as something of a surprise, according to two players in the market, Copenship and Ultrabulk. Copenship CEO Michael Fenger points to the decreasing volumes coming out of South America as the primary reason for the low level, which according to Fearnley on Thursday is down at USD 12,588 per day for the large Capesize ships.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

CMA CGM expects sharp decline in freight rates

The outlook for the container market looks somewhat more gloomy in the coming time, estimates French CMA CGM. However, the container shipping company still recorded growth on top and bottom lines in third quarter.

Further reading

Related articles

Latest news

See all jobs