This last January the Freight Swaps used by brokers showed no rise in rates this year, now the swaps are showing almost a triple in rates by the 4th quarter of this year.
"Freight swaps, traded by brokers and used to bet on future transportation costs, anticipate rates will almost triple by the fourth quarter."
Complete article can be found on ekathimerini .
Only the Cape rates are set to triple. You usually do get a healthy spot rate around November as they load iron ore into China before the holidays.
But if they keep ordering them like they have been.....it will be short lived.
A triple is all the way up to break even, for Cape owners with heavy debt.
Panas and Supras FFA's are flat to slightly down.