Next Revival in Bulker Rates Underway (9 Mar 2021)

Bulker freights have entered another phase of revival, much to the approval of the ownership class, with the BDI nearing a two-month high point and sentiment again at the backs of the tonnage side of the chartering equation. Capesize rates remain tilted toward the eastern hemisphere with major gains seen in front haul trips (ex-ECSA and USG) and, especially, inter-Pacific RVs, even if the same have levelled out in the high teens of just over US$ 19,000 daily. Trans-Atlantic RVs are getting into the swing of things as well, however, with TARVs poised to hit US$ 16,000 on 180,000 dwt ships by midweek.

Atlantic Panamaxes are undecided, if steady, with trans-Atlantic RVs holding to the high teens but owners having little success in reaching US$ 20,000 daily (or even trying). Pacific Panamaxes are much healthier, by contrast, with the Pacific RV rates going from high to new high, set to hit the US$ 22-23,000 daily range soon, given current trends (around US$ 300 added day-on-day). Indonesia rounds are another strong area with rates nearing US$ 23,000 as well.

The western hemisphere Supramaxes are faring better than the larger bulkers in the West with the USG front hauls looking especially buoyant in the second week of March with mid-high US$30,000s available for 58,000 dwt ships. Freights of US$ 37,000 daily have been reported (if not confirmed) on modern Ultramaxes from the US Gulf to Singapore-Japan on prompt terms. Inter-Pac freights remain as bullish as ever with Indo rounds pressing toward US$ 22,000.

For regular and exclusive updates from the shipbroking markets, subscribe to the BMTI Daily Report.

Comments are closed.