At the height of the dry-bulk market last year, Fairplay had these great expectations:'If these were not already extraordinary times for the dry bulk markets, they are now ... Not every record market high has been overhauled, but they all look certain to be toppled in the next few days, sealing a year that for owners is unlikely to be bettered.' As a sample of how high the market went, in December 2004 the 2003-built Cape Saturn of 175,775dwt was fixed from the Continent to China via Brazil at $108,000/day.The 1996-built Channel Alliance, 171,978dwt was fixed for an Australian round-voyage at $107,500/day. The Cape Saturn is now undertaking an Australian round-voyage at $31,000/day.
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