Is dry bulk shipping’s strange Q1 a sign of strength to come?
Small bulkers earning almost double large bulkers that carry five times the cargo Smaller bulk ships are outperforming (Photo: Shutterstock)
It has been a particularly strange Q1 for dry bulk shipping. Usually, the larger ships Capesizes with capacities of around 180,000 deadweight tons (DWT) that carry iron ore and coal do poorly all quarter. This year, they did better in January than they had in a decade before succumbing to their usual slump.
Then came another oddity: The smaller bulkers began earning much more money than the Capesizes. As of Tuesday, Handysize bulkers (up to 35,000 DWT) were earning $19,400 per day, according to Clarksons Platou Securities. That’s almost double the $11,700-per-day rate of Capesizes even though Capesizes carry five times the cargo.
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Is dry bulk shipping s strange Q1 a sign of strength to come? | Hellenic Shipping News Worldwide
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