Dry bulk freight rates hike further by $1.5-2/t
Asia-Pacific Supramax dry bulk (cargo capacity 50,000-55,000 t) freight rates have inched up to approximately $14-16/t today against $14.5/t as assessed on 27 Dec. Ships are reportedly moving from the West Coast to China and from MinaSaqr/Salalah to Southeast Asia, driven by a robust cargo volume, as per sources. Disturbance in Red Sea and oil price hike have contributed to higher insurance premiums as rates for containers have even doubled.