According to CCTV news, since the beginning of this year, the shipping industry has maintained a high degree of prosperity, and the freight rates of dry bulk shipping have been rising.
For example, the Handymax carrier had a chartering rate of about US$10,000 a day in the same period last year, while it currently costs about US$45,000 a day, which is equivalent to four times or more than last year.
Due to the impact of the epidemic, the port congestion period this year has been extended from 3 to 5 days last year to more than 15 days, resulting in a significant reduction in the port’s bulk carrier turnover efficiency.
Not only that, since last year, container freight rates have continued to rise. Many cargo owners have begun to replace container ships with handy bulk carriers with lower freight rates, which has increased the demand for bulk carriers.
Source: Sarah Yu, XINDE MARINE NEWS
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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