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Capesize: At the beginning of the week, the Pacific market showed promising activity with healthy cargo volumes.
Capesize: The first quarter of 2023 ended with a decline of $95 on the Capesize time charter average (5TC), pricing at $13,806 on the last day in March.
BIMCO will host a one-hour webinar on 27 January at 10:00 CET to introduce the new standard term sheet for bilateral ship financing transactions, codenamed SHIPTERM.
Capesize: The Capesize market was in a ‘one step forward, two steps back’ mode this week. The average of the 5 time charter routes eventually settled at $12,598, a decline of $775 week-on-week.
Capesize: The Capesize market had little cheer this week as rates subsided throughout the week, albeit on the back of reasonable fixing activity. The Capesize 5TC now stands at $9,305 - a decrease of 3502 week on week.
Capesize: The Capesize market had a forgettable week for owners as rates slipped away, closing the week below $15,000 on the 5TC.
For the seventh month in a row total US crude oil exports excluding china hit a new all-time high reaching 7.9 million tonnes in September.
April was a disappointing month for the crude oil shipping industry with a dramatic fall in US crude oil exports which caused tonne mile demand to fall disproportionally.
Capesize: A mixed week for the Capesize sector, but it ended on a positive note.
Capesize: The Capesize market has made the most of the short working week as rates have lifted strongly, with the 5TC now residing at $24,002 - up $6262 week on week.
