Chartering market at hand // week 29

摘要

Despite the expected activity decline in the Black and Mediterranean Seas due to holidays in Turkey, North Africa and the Middle East, charterers have at best managed to stop the steady rate upturn. They still suffer pressure mainly from the extremely short tonnage list, both for late July and 1H Aug. Over the week, rates have stayed virtually unchanged in the basin. Note that owners of 10-11k dwt fleet continue to voice ideas equivalent to $12-12.5k daily, while owners of vessels below 6k dwt voice ideas of $6.5-7k daily and often actually insist on freights close to these levels. Owners’ earnings in the segment for 10-15k dwt mini-bulkers have already reached record levels in at least 20 years (seen in summer 2008), while earnings of smaller dwt vessels are now only 10-20% lower than those 13 years ago.