Baltic Exchange Shipping Insights
A roundup of the week's tanker and dry bulk market (Jan 8, 2021)
Add BT as a preferred sourceCapesize
The market has surely surprised many this week after sparking into life and quickly surpassing levels seen in November and December 2020. The Capesize 5TC ended 2020 at $16,633 and now closes out its opening week of 2021 at a resounding $21,131.
Activity heated up from the middle of the week before exploding higher on Friday off the back of a heated Brazilian market. While major charterer Vale was said to be absent, rates have climbed quickly on prompter requirements scrambling to cover. Brazil to China C3 settled at up $1.645 to $17.33 to end the week.
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