Weekly Dry Time Charter Estimates, November 10 2021
The capesize spot market has shown some positivity in the last few days. Sentiment has improved in the Atlantic and in the Pacific, adverse weather has caused some disruption in port which has contributed to the elevation in rates. The period market has yet to react to this change in direction and rates continued to move lower, the average rate for a capesize for one year is currently estimated as $24,000/pdpr.
After a period of downward pressure, the Panamax/kamsarmax sector seems to have found a floor, spot rates moved up slightly but timecharter continue to come under pressure.
For the smaller sizes numbers continued to fall but on the whole sentiment remains positive for this sector as the outlook for dry bulk commodity demand remains firm.