Cargo backhaul

LR1 Rates Record 2021 Highs Amid Increasing Vessel Delays

East of Suez Long Range 1, or LR1 tankers traded at the highest level seen in 2021, on the back of tight supply as more ships delay their return to the Persian Gulf, reports Platts.

Tankers for cargo backhaul 

More tankers are getting backhaul employment for loading cargoes in North Asia and this has reduced the overall supply in the Middle East, sources said.

This was a significant departure from a few days ago when rates had not touched the key psychological mark of w100 even once this year and...

https://mfame.guru/lr1-rates-record-2021-highs-amid-increasing-vessel-delays/

Dry Bulk Market To Witness ‘Perfect Rainbow’ Amid Healthy Outlook

  • US-based dry bulk owner is bullish on the sector this year, and is even more so for 2022 due to a continuing shrinking fleet.
  • The capsize rates should bounce back by April.
  • The market was hit by supply issues rather than any demand concerns.

GENCO, a US-listed bulker owner, is positive on freight rates for both this and next year, reports Lloyd’s List.

A perfect rainbow

Genco’s chief executive says demand for coal, grains and minor bulks, has kept rates buoyant for the smaller sizes. But,...

https://mfame.guru/dry-bulk-market-to-witness-perfect-rainbow-amid-healthy-outlook/