Weekly Dry Time Charter Estimates, November 03 2021
The capesize market continued to fall alongside a plunging FFA market, that did nothing to improve sentiment overall as fears over Chinese steel production and a slowdown in Iron ore production from Brazil put pressure on this sector.
The downward trend also filtered through into the sub-cape sectors as rates for the Kamsarmax/panamax sector took a dip this week. The average period rate for one-year is currently estimated as $27,625/pdpr across both basins.
Rates for the smaller sizes dropped overall this week thanks to negative sentiment and a lack of fresh enquiry.