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Dry bulk spot market mounts week of broad gains

Home | Press | Dry bulk spot market mounts week of broad gains

Positive sentiment from China’s pending economic stimulus money also lifts spot rates, expert says

“So, we remain positive for dry bulk for the next few months, and we see the change of capesize rates moving into the $20,000-per-day range as our base scenario for the winter.”

“Capesize rates are also getting pushed up by low supply, port congestion in China and elsewhere,” said Giuseppe Rosano, founder of London-based broking house Alibra Shipping.

“It’s a bit tight,” he said.

Trade Winds Mast Head

Positive sentiment from China’s pending economic stimulus money also lifts spot rates, expert says

“So, we remain positive for dry bulk for the next few months, and we see the change of capesize rates moving into the $20,000-per-day range as our base scenario for the winter.”

“Capesize rates are also getting pushed up by low supply, port congestion in China and elsewhere,” said Giuseppe Rosano, founder of London-based broking house Alibra Shipping.

“It’s a bit tight,” he said.

By Michael Juliano (Stamford)

(Originally published at Tradewindsnews.com – 22 September 2023)