The capesize market has continued to surge with the BCI hitting the highest levels since 2008 due to rocketing coal demand, port congestion in China and high iron ore exports. The period market has also been strong with rates for one-year up to an average of $32,000/pdpr.
Boosted by the buoyant cape market, rates in the kamsarmax/panamax sector have moved up with plenty of period interest reported, thanks to demand in Southeast Asia.
Another positive week for the smaller sizes, demand in the pacific was flat but activity in the US Gulf supported Atlantic rates.
