Weekly Dry Time Charter Estimates, February 05 2020
Fears over the impact of the coronavirus on global trade, coupled with the extended Chinese New Year break, implemented by the chinese government as a measure to contain the spread of the Coronavirus, have put pressure on the capesize market and the BCI plunged to a historical low. Consequently, there has been little activity in the period market for capes and rates have fallen.
In the kamsarmax/panamax sector, a couple of period fixtures reported this week around the six month and one-year mark but generally period levels have been limited due to the market conditions.
The market for the smaller sizes has remained muted with very limited activity on period.