April 2021

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29-April-2021

Spot rates for capesize bulk carriers have surpassed the $40,000 per day. Baltic Dry Index breaks 3,000 points in more than a decade. FFA (Forward Freight Agreements) capesize 5TC contracts for 2022 trade at levels of over $20,000 per day during trading on Friday. Positive sentiment has come to the capesize market on the back of Vale’s announcement that Vale will intend to produce 450 million tonnes of iron ore annually by the end of 2022. Capesize 5TC May contract was trading at levels of around $42,000 per day on Friday in London. Australian miners are striving to ship as much product as possible before the end of the fiscal year and while iron-ore prices remain high. Baltic Exchange Western Australia to China capesize route increased to $13.24 per tonne, its priciest level since mid-December 2013. Dry Bulk Shipping Analysts anticipate capesize rates to average $26,000 per day in 2021.

5-April-2021

Rizhao Steel’s shipping arm Cara Shipping chartered out 2010 built capesize bulk carrier 180K DWT MV Stella Alice for around $20,650 per day to Rio Tinto for the long-term. Currently, Singapore-based Cara Shipping owns and operates fourteen (14) large bulk carriers. Australia-based Rio Tinto has booked capesize bulk carriers for iron-ore voyages from Dampier Port to China. Capesize bulk carriers FFA (Forward Freight Agreement) rates surpassing $25,000 per day for Q2 and Q3 2021. Lately, Baltic Exchange’s 5TC capesize bulk carrier rates have increased to $22,468 per day. Capesize bulk carrier front-haul rates from the Continent to China increased to $45,000 per day. Other Australia-based mining giant BHP chartered in capesize bulk carriers for iron-ore voyages from Western Australia to China for around $10.30 per tonne. Recently, iron-ore prices approached $170 per tonne which increased the capesize freight rates.