The capesize market surged ahead this week as ongoing port congestion in China limited vessel availability and demand from Brazil increased. The average rate for four to six months is currently estimated as $39,000/pdpr.
Boosted by a buoyant market in both basins and demand spilling over from the capes and also the supramax sectors, the panamax/kamsarmax sector has also had a strong week and rates have moved up.
The smaller sizes have remained firm with plenty of period inquiry this week.
