Japan’slargest shipowner says rates will average around $17,000 p/d in the first halfto give an overall average for the year of around $20,000 p/d.
NYK is one of the largest operators of capesizebulkers in the world with an owned fleet of 37 ships and a chartered in fleetof 89 ships.
It forecasts that theBaltic Dry Index (BDI) will average 1,354 in the first half of 2014 beforerising to 1,765 in the latter half. The BDI ended Thursday up 50 points at 993.
NYK said capesizerates averaged $17,256 p/d last year, but were subjected to severe volatilityas rates went from $6,255 p/d at the start of the year to $27,441 in the thirdquarter.
Inthe panamax sector NYK is also predicting a sizeable improvement from currentrates with an average for 2014 of $11,000 p/d.
The shipowner says rates will average around $9,500p/d in the first half of the year before increasing to $12,500 p/d in thesecond half.
NYK currentlyoperates a fleet of around 100 panamaxes – 44 owned and 58 chartered-in.Panamax rates at the close on Thursday were around $7,000 p/d.
In the handymax andhandysize segments NYK is forecasting yearly averages of $12,000 p/d and$9,500 p/d respectively.
Despite the improved dry bulk rate sentiment NYK is stillplanning to downsize its exposure to the segment in favour of LNG and offshore.
It aims to reduce its bulker fleet with plans to trim itscapesize fleet by 20% to around 100 ships by the start of FY2019.
There are also plans to downsize its post-panamax andpanamax fleet by just over 12% to 85 bulkers, but the handysize bulker fleetwill be left unchanged at around 165 ships.
