Supply Chain Research

Bulk carrier Pacific Basin reported improved, achieved rates in the third quarter of 15% for Handysize and 27% for Supramax vessels vs a year earlier. That lagged the 57% jump in the broader Baltic Dry Index, which was driven by a surge in Panamax rates. Further growth for Pacific Basin should come after it secured rate improvements of 11% to 17% for the fourth quarter vs. the third in contracted volumes. The company remains relatively upbeat, seeing a “gradual recovery” in the market – a marked contrast to tanker operators’ expectations of improvements only from late next year.