March saw average earnings for modern tonnage drop 1 % m-o-m to $82,044/day. Spot rates softened on all the major routes except for WAF-USG, for which rates increased from an average of WS99 in February to an average of WS129 in March. In the first week of March rates fell on all routes out of the MEG due to sparse enquiry. For MEG-East voyages they fell by WS20 points w-o-w to WS115. In contrast, rates out of WAF increased slightly. A quiet market was seen in the MEG in the second week of the month, this along with a lack of co-freighting opportunities in WAF saw rates fall on a w-o-w basis on all major routes. Indeed average earnings hit $59,955/day. Rates firmed on all major routes in the last two weeks of the month, despite the interlude of the Easter holidays. The upswing was precipitated by increased activity as late April dates were being worked. Voyages MEG-Far East ended the month at WS130.
展开▼
