DRY BULK MARKET

摘要

From a 10-month low in mid-February, the Capesize 5 TCs have staged a dramatic rebound to their highest level since November 2016. This has fuelled further increases in market expectations for this size of vessel as reflected in FFA prices, period charter rates and secondhand values. For example, the paper market is pricing the 4q17 to be the highest quarter for Capesize spot earnings since the 1q14 (at over $16,000/day). By comparison, movements in Panamax, Supramax and Handy spot rates over the past month have been modest but, nevertheless, average TC earnings in all sizes remain well in excess of their corresponding 1q levels in the past two years.