New Delhi, October 10, 2023 : October bulker sales are fired up by firming capsize rates, fuelling excitement in the larger segments.
With the Golden Week over in China, more deals are expected to filter in during the coming days.
Capesize spot earnings have hit year-high numbers closing in on $30,000 a day in recent days.
“The low rainy season has benefited the seaborne trade of iron ore. This, along with the unexpected increase of China’s Manufacturing Purchasing Managers’ Index and the tight vessel supply are the main reasons for this strong upward trend in the market,” noted a new report on capes from Greece’s Xclusiv Shipbrokers. according to the reports published in splash247.com
Two sales were widely reported over this weekend, illustrating the premium still being paid for Japanese tonnage. The Chinese-controlled 2010-built Cape Star is noted sold for some $21m. The 175,000 dwt Jiangsu Rongsheng-built bulker fetched significantly less than the one-year younger Japanese-controlled AM Gijon, a slightly bigger 178,500 dwt, Mitsui Ichihara-built cape. This workhorse is noted sold for just under $26m to Greek interests.
