According to data from Cleaves Securities, the dry bulk fleet as a whole is currently registering a fleet utilisation rate of around 93%.
“As spot rates are an exponential function of fleet utilisation, small increases from the currently lofty levels could propel spot rates significantly higher,” Joakim Hannisdahl, head of research at Cleaves Securities, told Splash today.
Hannisdahl said that if Brazilian exports remain above 30m tonnes in the coming months, capes could reach $60,000 per day in the near term. https://splash247.com/no-ceiling-in-…_medium=twitter