The year 2021 has started strongly for the Capesize market with a 10.4% increase in the number of journeys completed or underway in the first 20 days of the year compared to the same period last year (source: VesselsValue). This counter-seasonal upswing stands in contrast to the development for all other dry bulk ships which have seen a 2.8% decline in activity in the same period.
BIMCO expects that the number of Capesize journeys completed or still underway when January comes to an end, will exceed the number recorded in December 2020 (1,768).
Cold weather in the Far East and record high electricity production in China has, among other things, caused higher demand for Capesize imports. Coal