Golden Ocean has secured a period contract for one of its capesize bulkers MV Golden Feng169,200-dwt (built 2009) at a rate 3% above the BCI 4 index.
Fredericksen's Golden Ocean Company expects to be an improving spot market.
Capesize rates sat at just shy of $16,400 daily today compared with the one-year charter rate of $21,500 daily quoted by Clarksons on Friday.
The expectations are still that the market will improve towards the end of the year and the Golden Ocean Company will therefore continue to trade the vessels spot. Hopefully, cape size market will recover during the last part of 2014 and into 2015.