Petros Pappas-led Star Bulk Carriers has locked two panamaxes into period contracts at a time spot rates for the ships are running at multi-year highs.
Star Bulk has fixed the 82,700-dwt Star Kamila (built 2005) to Bunge at $14,500 per day for six to eight months, according to the Baltic Exchange.
The 82,300-dwt Star Mariella (built 2006) has found cover at the same level for six to nine months with an unknown charterer.
The charters compare with the $15,659 per day panamaxes are earning in the spot market today, having built in previous improvements earlier in the week.
“Higher activity into China from both basins is supporting rates as soy exports from Brazil have largely been compensating for US loadings, also adding distance,” analysts at Clarksons Platou Securities said.
“In the Pacific, tight coal supply has resulted in steady exports from Australian mines.”
