Smaller bulk ships starting to feel the booming rates

With the giant Capesize ships acting as the primary driving force behind the overall increasing dry bulk rate index, the smaller segments are now also starting to feel the boom.

Photo: Rederiforeningen

The big Capesize ships have been driving up the struggling dry bulk rates for weeks now, but now the heat seems to have spread to the smaller Supramax vessels (50,000-60,000 dwt), which according to analysts Fearnley are now also showing signs of improving, with a 2.6 percent increase up to USD 10,579 per day.

On Wednesday, the Capesize market continued to rise significantly, at a whopping USD 2,206 per day compared to the day before. The overall atmosphere remains positive, though China's stockpiling may have peaked, says Fearnley.

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