Charterers are employing capesize bulkers on lucrative period fixtures in an effort to lock in steady rates against a strong futures market.
Since Wednesday, at least three large bulkers have been fixed on charters lasting for about a year at rates above the spot market and more aligned with paper rates.
Diana Shipping said on Wednesday that it chartered its 208,006-dwt newcastlemax San Francisco (built 2017) to Olam International at $17,750 per day for the first 105 days.
