ShippingWatch

Dry bulk rates boosted by Capesize

The dry bulk index BDI has reached an 11-month high. This is mainly attributed to an increase in the rates for Capesize vessels, but for the long term, analyst agency Morgan Stanley points to an overall improvement in the dry bulk market due to a potential increase in Chinese imports.

Photo: Norden

The dry bulk index (BDI) reached an eleven-month high last week and continued to increase for the fifth consecutive week. The increase in the index is primarily attributable to growth in the rates for Capesize vessels, writes analyst agency Morgan Stanley.

Last week, Capesize rates went up by 50 percent compared to the previous week and reached a level of USD 10,600 per day, which is 65 percent above the average level for the past two months.

Read the whole article

Get 14 days free access.
No credit card required.

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

Exmar to develop CO2 tanker in joint venture

Transporting CO2 will become an important market as the green transition gathers momentum, expects Belgian Exmar, which aims to develop a CO2 tanker in collaboration with Lattice.

Oil service firm loses nearly USD 60 million in three months

Norway's PGS still suffers under the Covid-19-stricken oil market, delivering yet another financial report with enormous red figures on the bottom line. The deficit is smaller than in Q3 2020, however, when PGS lost more than a quarter billion dollars.

IKEA sustainability manager: Green solutions should not cost more

As a starting point, furniture giant Ikea won't accept that green solutions become more expensive than polluting solutions, says Elisabeth Munck af Rosenschöld, Global Sustainability Manager for Supply Chain Operations, to ShippingWatch. Ikea is part of an alliance of global companies that calls for green shipping by 2040.

Further reading

Related articles

Trial banner

Latest news

See all jobs