BIMCO’s SNOW: 1,427 Capesize journeys in the first twenty days of the year
The strong start to the year for Capesize ships has also been reflected in earnings, which, after high volatility in 2019 and 2020, have averaged USD 22,015 per day since the start of the year, comfortably above the USD 15,300 per day needed for an average Capesize ship to break even. Rates peaked at USD 26,489 per day on 13 January and now stand at USD 24,148 per day (19 January).
“The Capesize market has always...