China holidays to put dry bulk rates under pressure

The national day holidays in China will likely put pressure on the dry bulk market this week. China is on holiday from Monday through to Thursday. “Overall chartering activity might fall again due to this week’s week-long National Day holiday celebration in China. Chinese charterers will likely be absent from the market for a large portion of the week,” said Commordore Research in their weekly report. Last week saw capesize rates rise 12% on increased activity, however panamaxes, supramaxes and handies remained under pressure.