Cargill targeted the capesize segment with three one-year deals at around $20,000 per day. It fixed the 181,000-dwt Lowlands Sunrise (built 2011) and 179,000-dwt Stella (built 2009) and Ian M (built 2010).
The rate was substantially higher than the spot level, which indicates that the market expects stronger rates later this year.
Average spot rates for capesizes dropped $700 per day over the last week to stand at just $12,600 per day by Wednesday.
Bunge
