Capesizes enjoyed a prosperous summer according to Bimco's latest report, with rates doubling in a fortnight from $6,000 per day to $12,000 per day, peaking at $15,218 on 1 July. The improvement in capesize rates brings large sized bulkers closer back into line with their smaller cousins in terms of rates. Supramaxes held steady around $10,000 per day, handysizes held at $8,000 per day and panamax rates rose steadily from $6,000 to $10,000 per day over two months.
According to Bimco chief analyst Peter Sand, rates have eased steadily since the 1 July peak, as the vessels that were in the right place at the right time steam away, but the outlook for the sector remains robust. Bimco has forecast average TC rates of $8,000 - $13,000 per day for the next two months for the Capesize market.
July saw a run of capesize orders, and overall the dry bulk orderbook grew by 3.2m dwt to 126m dwt. The growth marks the first time in over 30 months that the orderbook has ticked up as it descends from the heights of 300m dwt at the end of 2010.
Bimco forecasts panamax earnings in the $6,000 - $9,000 per day range, supramax $8,000 - $11,000 per day and handysize at $6,500 - $9,000 per day.
Copyright © 2024. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited.  Add Seatrade Maritime News to your Google News feed.   Â
