Source: BIMCO
Original Date Posted: 5/26/2020
The outlook is poor for dry bulk, as the negative demand shock and overcapacity come together to send rates to multi-year lows, even a return to work in China is not enough to support the market. Demand drivers and freight rates The dry bulk shipping market has had an appalling start to the year, with all sectors at loss-making levels. Even as China returns to work, the Capesize market, which had found some relief in April, is again experiencing rock-bottom freight rates. The first quarter of the year proved a mixed bag for the dry bulk shipping industry, with freight rates for the smaller dry bulk segments faring better than those in the Capesize market. April has provided some relief for the struggling Capesize markets, although rates for all ship types remain below break-even levels.
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