Very little period activity reported for the capes as the market remains under pressure.

Capesize timecharter rates continued to come under pressure this week and rates moved slightly lower across all periods.

Capesizes rates came under pressure this week and have moved lower following the bank holiday in the UK. Owners have focused on shorter periods due limited cargo volumes and an oversupply of tonnage in both basins.

The capesize period market has remained muted this week, with very little timecharter activity reported. The average rate for a capesize for one-year is currently estimated as $17,000/pdpr.

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.