Bimco: Capesize market almost can't get worse

If struggling STX Pan Ocean starts to cancel its contracts for major dry bulk ships, owners such as Lauritzen, Navios and others will have to find new employment for the ships in a market where rates are hitting rock bottom.

Owners of major dry bulk ships could be in for a nasty surprise if struggling STX Pan Ocean starts to cancel contracts and returning its chartered capesize vessels to their owners, sending the owners out to find new employment for the ships. Capesize rates are still resulting in losses, though there's been a small improvement recently.

In its most recent estimate for capesize, the international maritime organization Bimco predicts that 2013 will be better than 2012, which finished at USD 7,680 a day. The rate for these ships is currently at USD 5,494 a day.

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

SDK Freja anticipates steep earnings drop following record year

Logistics company SDK Freja, which delivered record financials with great advancement on top and bottom lines, takes a more gloomy view of the current fiscal year due to several ”external factors.” However, the growth target remains the same, CEO tells ShippingWatch.

LNG carriers concerned about increasing ship prices

The price on new LNG vessels has soared vigorously, and for Flex LNG this has meant a withdrawal from the market for new ships. Such was the statement by Flex LNG’s chief exec at Marine Money in New York, where he also announced new long-term charter agreements.

Maersk ships delayed up to three weeks on US east coast

Bottlenecks at major container ports on the US east coast have entailed that Maersk vessels are affected by delays of up to three weeks. It’s a combination of congestion, many ships, and a lack of container space, Maersk says.

Further reading

Related articles

Latest news

See all jobs