- dry bulk shipping rates hit $80,000 per day as buyers scramble for coal
- amid coal shortages and power outages, bulker owners stand to gain
- more coal to keep the power on in the winter should equal higher bulker rates
braemar ACM Shipbroking estimates that 5.7% of the entire global dry bulk fleet is now waiting offshore of China
Spot rates for large dry cargo ships just topped $80,000 per day for the first time since 2009, and freight derivatives for the fourth quarter — a period when rates for these vessels normally pull back — just spiked says an article on Freight waves.
Higher bulker rates
More coal to keep the power on in the winter should equal higher bulker rates. And as with container shipping, rampant port congestion is slashing effective ship supply, adding more support to rates. Braemar ACM Shipbroking estimates that 5.7% of the entire global dry bulk fleet is now waiting offshore of China.
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