Belgian bulker owner Bocimar timed the fixing of two capesize bulkers for period deals this week, before the market started dropping.

The Belgian company extended its 180,000-dwt Mineral Haiku (built 2010) for 10 to 14 months to Classic Maritime at a rate said to be $12,000 per day. Brokers suggest the deal would have been concluded at less than $11,000 per day if it had been a couple of days later.

Bocimar also fixed out the 170,000-dwt Mineral Water (built 1999) for five to seven months to Cargill.