Handy markets Supramax
The Supramax markets in 2012 were affected by a combination of additional supply-side pressure and a slower growth of minor bulk trade. The average Supramax trip earnings reached $8,857 per day, down 36 per cent year over year. Although Supramax earnings in 2012 remained above the benchmark levels required to cover operating expenses, profit margins of owners remained under substantial pressure. Earnings in the first half of 2012 were on average 20 per cent higher than in the second half, as further rapid supply growth took its toll, while trade volumes of some commodities weakened. The average one-year time charter rate remained low, around $8,750 per day in December 2012, compared with $11,250 in January 2012.