After ending last week on a bit of a down note, Capesizes start the new week with something of a surprising return to positivity with stabilizing trends in the Atlantic and continued buoyancy in the Pacific. Pacific round voyage rates have been especially bullish of late with owners who had taken US$ 11,000s last week already heard to be asking charterers for US$ 12,000s on mid-September dates. Panamaxes have turned into a split market with geographically eastern rates out-performing their western counterparts. Trans-Atlantic RVs are falling by some US$ 300-400 day-on-day (into the low US$ 22,000s) while Pacific RVs are increasing by around the same amount on a daily basis to trade in the middle US$ 11,000s. Southeast Asia is thriving as well with Indo rounds moving above US$ 10,000. Supramax rates are climbing across the board thanks to a convergence of global chokepoints that are making available tonnage slightly harder to hire in both hemispheres. In the East, a 58,000 dwt vessel has secured a rate of about US$ 17,000 daily going from Madagascar to China. Short period time charters are getting concluded at upwards of US$ 15,000 daily on Handymax tonnage open in the PG-WCI area.
For exclusive news and updates about dry bulk shipbroking, subscribe to the BMTI Daily Report.
