Weekly Dry Time Charter Estimates, August 19 2020

Capesize period rates have moved lower this week and there has been very little period interest reported.

Not much to report in the way of period activity for capes this week and any interest seen has focused on the short term.

The capesize market continued with the correction phase this week. Very little period activity this week and any interest focused on the short-term as global economic uncertainty persists.

The capesize market has entered into a period of self-correction following the bullish sentiment of the past few weeks and rates have moved slightly lower.

The capesize period market pushed up again this week with healthy interest in short-term fixtures around the one-year mark as demand for the West Australia to China route remained strong.

The capesize market continued to firm this week with rates moving upwards to an average of $20,000/pdpr for six months. Fixtures reported this week range from six to fourteen months.

The capesize period market remained strong this week across both basins. Rate levels continued to rise for all periods with plenty of TC interest reported.

The capesize market has surged ahead this week both in the spot and period markets spurred by increased demand from China and the gradual reopening of other economies.

The capesize period market has experienced upwards momentum this week and this has supported owner’s sentiment for firm rates in the short term.

The capesize market came under pressure this week and rates remained flat, there has been some interest in the medium-term period market of around 14-16 months.

Some respite in the downward trend of the capesize market due to increased activity from Brazil and the Pacific. Time charter rates for one year have firmed, however very little period activity has come to light.

Capesize period rates continued to come under pressure and rates moved lower. A few short to medium term fixtures have been reported and the average rate for a capesize for one year dropped to $11,250/pdpr.

Another negative week for the capesize period market, few fresh fixtures have emerged as, unusually for this time of year, the market continues to move lower with little hope of improvement in the near future.

Capesize rates continued to fall and the Atlantic basin has come under considerable pressure, although there has been some interest in West Australia- China routes. A few period fixtures have been reported with varying durations.