Anangel ties up capes

John Angelicoussis’s Anangel-American Shipping Enterprises has secured spot contracts for two of its capesize bulkers.

Shipbrokers say Cargill paid $7,000 per day to pick up the 180,000-dwt Anangel Seafarer (built 2011) for a trip that will see the unit travel from Cape Passero through the Gulf of Aden with redelivery expected in the Cape of Good Hope.

In addition, the 180,000-dwt Anangel Merchant (built 2010) fetched $9,250 per day for a voyage from the East Coast of Australia to Singapore and Japan. The charterer remains a mystery.

The levels are above the current average according to an assessment from the Baltic Exchange, which says capesize bulkers are currently earning around $6,300 per day in the spot market.

The figure represents 1.6% increase from rates reported Tuesday and is roughly 26% higher than those turned in seven days ago. This time last year capes were seeing daily averages of roughly $8,800, according to Global Hunter Securities.

Market insiders say the recent spike is a result of fresh coal and iron ore cargoes but many fear the uptick will be short-lived due to the ongoing glut in global fleet capacity and note levels are still below breakeven for most operators.

Click HERE to read more about the latest spot market fixtures in TradeWinds' daily dry-bulk chartering report