July 2020

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30-July-2020

Over the past week, capesize bulk carrier rates improved insignificantly. TCE (Weighted Time Charter Equivalent) for capesize bulk carriers increased by 7.5% to $18,300 per day. The capesize bulk carrier rates increase simply represent a precursor to another move upwards. The capesize bulk carrier rates increase is driven predominantly by the Brazil and Australian round voyages on continued iron ore demand strength", the Baltic said. The capesize bulk carrier rates for Brazil-to-China route gained increased to $17.47 per tonne. On the other hand, capesize bulk carrier rates for Australia-China route increased to $7.16 per tonne. Handysize bulk carrier rates continued to increase quietly. TCE (Weighted Time Charter Equivalent) for handysize bulk carriers rates increased to $8,539 per day. Handysize bulk carriers rates were broadly flat with limited cargoes from ECSA (East Coast South America) and in the Pacific market.