Another positive week for the capesize period market with plenty of activity from Brazil and West Australia to China

This week the capes finally played catch-up with the rest of the market with rates up sharply across both basins

After an unimpressive start, the spot market picked up mid-week thanks to an uptick in activity from West Australia and Brazil to China

A positive week this week for the capesize period market that has received support from the booming kamsarmax/panamax sector

Supported by the panamaxes and positive sentiment in the paper market, capesize rates improved this week

Capesize period market rates moved downwards this week as is often the case in the run up to the Chinese New Year

Despite a downwards correction in the spot market as the lunar new year approaches there has been some timecharter activity reported in the larger end of the capesize spectrum

In contrast to the spot market, period rates continued to move up

The capesize timecharter market continued to firm this week with a number of fixtures reported around the one-year mark

The capesize market experienced upwards momentum this week thanks to an active iron ore market in both basins. This has supported timecharter rates which have moved up across all periods. The kamsarmax/panamax period market firmed off the back of gains in the capesize market, the average rate for one year is currently estimated as $12,750/pdpr. A more positive week for the smaller sizes with some short-term supramax and handymax fixtures reported.  

The dry bulk market has started off the year in a positive direction, spot rates have moved up and the period market is stable,

Capesize period rates moved up slightly, boosted by an uptick in the Baltic indices and positive sentiment coming from Brazil.

Although the capesize spot market has come under pressure this week due to Vale downgrading its production targets for the year, there has been some interest in the period market for fixtures of around 12-15 months.

Capesize period rates firmed slightly this week and with period interest focusing on the short to medium term.

The capesize market has reported minimal period interest this week due to lack of demand from Europe and ongoing trade disputes between China and Australia that have put further pressure on this sector.