Congestion Spurs Rally in Rates

摘要

Dry bulk freight rates rallied through May, reaching 8-month highs by early June. After a brief downward adjustment, the past few days have seen renewed strengthening in earnings for the larger vessel sizes.rnHaving started May at $22,000/ day, Capesize average earnings surged to $93,000/day one month later. The continued strength of Chinese iron ore imports has helped to support Capesize demand (see page 6). Fronthaul earnings surged from less than $40,000/day at the start of May to $116,000/day one month later and, having retreated to $90,000/day in early June, have rebounded above $110,000/day once again.