Dry bulk making money on Capesize for the first time in a year

Strong developments in coal and iron ore transports have sent the rates for the largest dry bulk ships, Capesize, into the black last week. But the increasing volumes are seasonal, and a significant fleet growth will likely bring renewed pressure on the rates, writes Morgan Stanley.

Photo: Golden Ocean

The benchmark Baltic Dry Index has now increased by nearly 50 percent since July, and the rates in the extremely hard-pressed sector have returned to the level seen one year ago.

The development is particularly reflected in the rates for the largest dry cargo ships, Capesize, which are now earning money for the first time in a year. But the good rates will likely be short-lived, predicts Morgan Stanley in an update.

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