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• Rebound in Capesize rates (19 Feb 2025)

  The Capesize recovery as such has developed into a more reliable force with rates on nearly every route rising by a solid margin in 24 hours at midweek with standard long hauls gaining more than US$ 300 day-on-day. Trans-Atlantic RVs, which are presently buoyant, have quite a ways to go to return to profitability with current levels still in the US$ 4,000s. But owners are hopeful that another few days of steady recovery will push them back into the US$ 6-7,000s by the end of the month. Hope—as ever—springs eternal. Eastern Panamaxes continue to be surprisingly bull­ish with Pacific round voyages pushing past US$ 10,000 daily at midweek (basis 82,000dwt). Smaller Panamaxes have seen their own Pac RVs rise into the US$ 9,000s with owns already seeking US$ 10,000s for their end-Feb positions. RV trips from the Far East to ECSA and back are also pushing into the US$ 11,000s on modern Kamsarmax tonnage and near­ing US$ 10,500 daily on 76,000 dwt vessels. It is a tentatively optimistic time for shipowners who be­lieve in the ongoing upside potential of the market. (For news & updates on dry bulk shipbroking, subscribe to the BMTI Daily Report.)

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