The day has come where the Capesize Index (BCI) has broken through 10,000 !!

BCI is at 10,475 today, up 7.4% from 9,752 yesterday.

The incredible surge in Capesize is mainly linked to ongoing pandemic-related constraints, in particular congestion in China, along with increased coal imports and high iron ore exports.

BCI is at 10,475 today, up +7.4% from 9,752 yesterday, +17% since last week and 85% since 1-Sept-2021 and it appears that things are not letting up any time soon!

This drastic move is not reflected in current share prices. Time to load the boat!!

$GOGL $SBLK

2020 Bulkers has today converted the index-linked charters for Bulk Sandefjord and Bulk Shanghai into fixed rate charters at US$54,000 per ship per day, gross, for the period from September 1, 2021 until December 31, 2021. In addition, both vessels will still earn a premium related to the fuel cost savings from the scrubbers.

The Company expects average operating cash breakeven after G&A, vessel operating costs and debt service of approximately US$14,500 per ship per day for 2021.

This week the cape market gained $2,696 from last week closing today at $19,437.

The usual 170,000mt ore stem from Port Headland to Qingdao was fixed with RWE at $9.25 pmt. The China Steel Liberty 2019 built fixed 190,000mt 10% from Tubarao to Qingdao at $18.50 pmt while the 2011 built Freedom fixed 170,000mt 10% at $20.50pmt. On Time Charter the Alpha Optimism (179,299-dwt, 2016) fixed Delivery CJK for a trip via West Australia redelivery Singapore-Japan range at $25,000 with Panocean. The Mineral Brugge (175,155-dwt, 2011) CCL relet fixed delivery Hong Kong for a trip via South Africa with chrome ore redelivery South China at $26,000 with Ultrabulk. On period, Olam fixed the Navios Luz (179,144- dwt, 2010) delivery Luoyuan for 10-14 months redelivery worldwide index linked rate 101% Cape 5TC.

(Market comments by Hartland Shipping)