January 2021

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13-January-2021

On 13 January 2021, Capesize bulk carriers weighted TCE (Time-Charter Equivalent) average rate reached to $26,489 per day. This is the highest point since October 2020 due to a stronger outlook for the capesize market. On 13 January 2021, the Baltic Exchange attributed the capesize physical rally to the paper market rising on 2021 optimism but remarked the capesize market viewed the paper spike as unsustainable. Capesize FFA (Freight-Forward Agreement) rates are still showing momentum and gained for February 2021 to $15,338 per day. On 6 January 2021, Capesize FFA (Freight-Forward Agreement) volumes increased to 6,251 lots from 2,310 lots. In FFA (Freight-Forward Agreement), a lot is equal to 1,000 metric tonnes of cargo or one day of charter hire.