Yet another week passed by with China being the drive force of the main size segment the Capes. All indices went down during this week with Capes still moving positively and the reason for this is the continuing growth in demand for iron ore imported in China. Yes that’s no news one would say and that is absolutely right. We are not happy to be forced to repeat the same old song every week, but this status quo could also be assuring depending on how you might want to see it. Further in this report we will explain what we feel about China and what we may call “welcome to the comfort zone”…
To get a peek at how this week did not have the same number as period and timecharter fixtures in the Cape sector, as we have more or less 12, but all period and T/C fixtures for the first 15 days of October have reached 38 in total, one more than the 37 we had recorded for last September. This is surely a sample of the increased demand and the heating up of the Capesize market that managed to raise the average daily performance to a level over $40,000 dollars per day. We shall see in detail how the daily earnings of all sizes of ships moved this week, however briefly similar to last week the Capes is once again this weeks big winner with all the other smaller sizes and especially the Panamax size segment performing the worst.
To get a peek at how this week did not have the same number as period and timecharter fixtures in the Cape sector, as we have more or less 12, but all period and T/C fixtures for the first 15 days of October have reached 38 in total, one more than the 37 we had recorded for last September. This is surely a sample of the increased demand and the heating up of the Capesize market that managed to raise the average daily performance to a level over $40,000 dollars per day. We shall see in detail how the daily earnings of all sizes of ships moved this week, however briefly similar to last week the Capes is once again this weeks big winner with all the other smaller sizes and especially the Panamax size segment performing the worst.
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