Weekly Dry Time Charter Estimates, March 03 2021
After an unimpressive start, the spot market picked up mid-week thanks to an uptick in activity from West Australia and Brazil to China and this was echoed by sentiment in the paper market.
Although kamsarmax/panamax rates moved sideways this week the period market remained firm with plenty of short term timecharter activity reported.
The supramax market stole the show this week thanks to a boost in global commodity demand. The BSI hit the highest point in over a decade and period rates surged to record highs. The average rate for six months is currently estimated to be around $18,875/pdpr.