ShippingWatch

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.

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

ECSA's new secretary general balances on a razor's edge

ECSA’s newly appointed secretary general, Sotirs Raptis, has taken up the helm of an organization criticized by its own members for being invisible. In an interview with ShippingWatch, Raptis explains how he intends to alter that image.

Further reading

Latest news

See all jobs