Some dry bulk rates at multi-year lows

摘要

Rates for some Capesize and Panamax routes have fallen to multi-year lows as slowing iron ore exports from Australia and Brazil early in the year have developed into a global downward trend in dry bulk demand. Panamax coal voyages from the US east coast to Rotterdam were at $10.95/t on Tuesday, the lowest since September 2020. A tonnage glut in the Atlantic basin has persisted long enough for charterers to successfully refuse to pay for round trip voyages on Europe-bound routes, paying only the laden leg instead, to their beneft and the likely chagrin of shipowners.