Positive undercurrents lift Capesize rates significantly higher as charterers start to wonder whether they should call owners’ bluff or wait for the next collapse, as has been frequently the case. Surely, the still-limited activity in the Pacific basin, only slightly surpassed by middling Atlantic spot action, suggests that a base of fixing activity is lacking. Nonetheless, an upward correction is in full week and it would seem that the market level has some ways to rise still before the new balance is achieved. In the event, the trans-Atlantic RVs increase by nearly US$ 1,000 to closer in the low-mid teens of US$ 13-14,000 daily.
…continue reading about the dry bulk chartering market in today’s BMTI Daily Report.
