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A number of guidelines are up for adoption at the 78th session of the Marine Environment Protection Committee (MEPC) at the International Maritime Organization’s (IMO) headquarters in London. BIMCO will be attending the meetings taking place 6 – 10 June 2022.
Capesize: The capesize market concluded the week on a relatively sombre note.
Capesize: The Pacific market started with a positive outlook, maintaining healthy cargo volumes driven by substantial coal shipments from East Coast Australia to the Far East. Rates initially increased, but as the week progressed, a notable shift occurred. Owners began contemplating ballasting towards the Atlantic, creating additional pressure in the Pacific market.
Capesize: The average of the 5 Capesize timecharter routes were one step away from breaking through the $10,000 threshold upon closing on Friday after a week of continuous improvement.
Capesize: The Capesize market had little cheer this week as rates subsided throughout the week, albeit on the back of reasonable fixing activity. The Capesize 5TC now stands at $9,305 - a decrease of 3502 week on week.
Capesize: The Capesize market inched higher this week as increased activity continues to lift expectations with the 5TC closing at $19,874, up 3,660 over the week. The Atlantic remains the more optimistic region.
Capesize: The Capesize market has made the most of the short working week as rates have lifted strongly, with the 5TC now residing at $24,002 - up $6262 week on week.
Capesize: The Capesize market staged a dramatic turnabout at weeks end after seeing several days of value eroded off each route in the market. The weekly dry bulk market report contains a summary of the recent movements in the market, alongside the latest figures for average dry bulk earnings and Baltic Dry Indices.
