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- Bulk Carrier Market Overview (17 Apr 2024)
Capesizes enjoy a new upswing in demand with the eastern basin looking especially improved thanks to new orders being made for early May positions and trans-Pacific RVs climbing up past the US$ 26,000 marker. Owners are hoping that momentum will continue into the end of the week and potentially even push these freights into the high US$ 20,000s or even US$ 30,000 by the weekend. Front hauls are edging upwards in the US$ 40,000s to US$ 46,000 daily.
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Gigantic #LNG dual fuel #Newcastlemax class dry bulk carriers earning far better than Capesize ships over last 12 months. #Platts time charter equivalent weighted #NMAX GT4 Index reflects daily earnings accrued on LNG-fueled Newcastlemaxes.
@SPGCILNG @SPGCIShipping @SPGCICoal
China's crude steel output for Jan-Feb expanded by 1.6%, while cement production (more of a real-time indicator on construction activity) dropped by 1.6% for the period. Crude oil production and refining both expanded at a decent pace (~3%).
