Weekly Dry Time Charter Estimates, June 09 2021
Capesize period rates moved lower for the second week in a row as vessel oversupply in key trading areas and uncertainty around Chinese steel demand continues to put pressure on this sector.
In contrast to the capes, the kamsarmax/panamax period market has continued to gain strength supported by gran cargoes in the Atlantic. The pacific market has also remained firm, thanks to a busy Indonesia to China route and plenty of activity out of East Coast Australia.
The smaller sizes are reigning at the moment with Handysize rates for four to six months currently estimated as $25250/pdpr and plenty of period activity reported across both basins.