October 2022

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26-October-2022

November Baltic Exchange Capesize Bulk Carriers FFAs (Forward Freight Agreements) plunged 1.88% to $12,889 per day on 25 October 2022. On the other hand, December Baltic Exchange Capesize Bulk Carriers FFAs (Forward Freight Agreements) plunged 1.48% to $11,829 per day on 25 October 2022. Bulk Carriers FFAs (Forward Freight Agreements) indicate rough times ahead for dry bulk shipping as China encounters financial headwinds. Furthermore, November Baltic Exchange Panamax Bulk Carriers FFAs (Forward Freight Agreements) plunged 3.68% on 25 October 2022. Any spike in Capesize and Panamax Bulk Carrier Spot Rates could be short-lived as China’s economy continues to struggle.

17-October-2022

November Capesize Bulk Carriers FFAs (Forward Freight Agreements) plunged nearly 12% on Monday. November Capesize Bulk Carriers FFAs (Forward Freight Agreements) market for bulk carriers collapsed on Monday, while Capesize Bulk Carrier Spot Rates did not provide much excitement for dry bulk shipping. The Baltic Exchange’s Capesize 5TC (Spot Rate Averages Across Five Key Routes) tumbled on Monday due to low cargo volumes in the Atlantic basin.

5-October-2022

The Baltic Exchange’s Capesize 5TC (Spot Rate Averages Across Five Key Routes) increased 13.8% on Wednesday to $21,175 per day. The Baltic Exchange’s Capesize 5TC increased to its highest point since the end of July 2022. The Baltic Exchange’s Capesize 5TC increased despite China’s celebration of Golden Week. Capesize bulk carriers have been somewhat limited this week due to the holidays in the Far East. The Forward Freight Agreement (FFA) market decline implies a more serious decline in future spot rates of capesize bulk carriers.

4-October-2022

The Baltic Exchange’s Capesize 5TC (Capesize Spot-Rate Average Rates Across Five Key Routes) increased 10% to $18,611 per day to mark its highest point since late July 2022. The Baltic Exchange’s Panamax 5TC (Panamax Spot-Rate Average Rates Across Five Key Routes) increased to $18,987 per day. The Baltic Exchange’s Supramax 10TC (Supramax Spot-Rate Average Rates Across Ten Key Routes) increased to $18,351 per day. The Baltic Exchange’s Handysize 7TC (Handysize Spot-Rate Average Rates Across Seven Key Routes) increased to $18,313 per day. Dry bulk shipping’s spot rates are increasing regardless due to low supply. The low supply balance of bulk carriers will remain tight over the coming years due to more stringent regulatory burdens and a low bulk carrier new building order book in the Far East shipyards. Currently, the international fleet of bulk carriers is around 13,105. Today, 1,937 capesize bulk carriers, 3,008 panamax bulk carriers, 4,069 handysize bulk carriers are trading in the oceans.

3-October-2022

The Baltic Exchange Capesize 5TC (Spot Rate Average Across Five Benchmark Routes) has improved 170% since 12 September 2022 to just over $16,900 per day. However, since 12 September 2022, November Capesize FFAs (Freight Forward Agreements) plunged from about $17,800 per day to about $15,100 per day. FFAs (Freight Forward Agreements) indicate a return to lower physical rates after the bulk carrier sector rebounded from September 2022 lows. FFAs (Freight Forward Agreements) is indicating a turn for the more alarming over the next several months.