Drybulk Week 13
Capesize rates in the spot market weakened again last week after reports that Vale has not started all their mines after the accident, and that Hurricane Victoria ravaged outside Australia, which is an important market for the Capesizes. Recently, it became official that a number of mines going into deficit in Spain will be closed, which will lead to an increase in tonnes-mile in the dry bulk segment, which is positive. Also interesting to see that 12 month contracts increase from $ 11500 to $ 13,000. Is drybulk about to pick up again? Furthermore, we see that Panamax experiences a slight increase in rates due to good activity in transporting bauxite out of the port of Kamsar.
Capesize 12 TC: $13.000 per day