Dry Bulk Q1 commentary
• Q1 period rates for bulk carriers have increased across the board, capesize rates are up 42% compared to the same period last year. However,
April 30, 2021
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• Q1 period rates for bulk carriers have increased across the board, capesize rates are up 42% compared to the same period last year. However,
Overall current orderbook levels are low on the whole both for tankers and dry and this is allowing the yards to manage orders efficiently which is one of the reasons why slippage- the amount of ships due to be delivered during a certain period that are shunted over to the next- levels have been on the low side and the performance of shipyards has been remarkably solid considering the pandemic.
The momentum of the dry bulk market over the past week has sparked renewed optimism in the sector, resulting in a more confident outlook towards Q4 following weeks of decline as the impact of the global pandemic put pressure on dry bulk demand.
Tanker time charter rates have been looking stronger across all sectors in 2019.
As we approach the traditionally stronger second half of the year, we are starting to see improved rates for dry bulk but is this uptick down to the usual seasonality or are there other underlying reasons behind this current market rally?
As the dry market dropped off following the highs seen in September 2019, the underlying sentiment was that only a resolution in the ongoing trade war between the US and China would signal a change of fortune and provide a boost for the dry market, driving up rates.
Following the conclusion of the three-day trade talks this week between US and Chinese officials, in a bid to resolve the ongoing trade war between the two countries, both sides have released statements.
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