Those opting to fix vessels on period charters can lock them in at better levels. Quadra has fixed the 178,000-dwt Gotia (built 2012) for three to six months at $6,750 per day. Longer deals pay slightly better.

SwissMarine has taken the 172,000-dwt CSK Beilun (built 1999) for a year at around $7,000 per day, while E.ON has secured the 180,000-dwt Ariadne (built 2009) for six to eight months at $8,000 per day.