Capesize Bulk Carrier: Size, Cargoes and Chartering
Capesize ships are the giants of dry bulk shipping. They carry the largest cargoes of iron ore and coal over the longest routes.
What is a Capesize ship
Capesize is the largest standard class of bulk carriers, from about 100,000 DWT up to 200,000 DWT and beyond. Most carry 150,000 to 180,000 tonnes. They are about 280 to 300 metres long and 45 metres wide, with nine holds. The name comes from the old routes around the Cape of Good Hope or Cape Horn, because for a long time these ships were too big for the Suez and Panama canals.
Larger classes
Newcastlemax ships of about 200,000 to 210,000 DWT are the biggest that can enter the port of Newcastle in Australia. Very large ore carriers of 300,000 DWT and more are used on a few fixed routes, for example from Brazil to China. These are chartered mostly under long contracts by large mining companies.
Typical cargoes
Iron ore is the main cargo, and coal is the second. Bauxite and some other bulk cargoes also move on Capesize ships. The main iron ore routes are from Australia and Brazil to China, Japan and Korea. Cargoes are so large that the loading and discharging terminals are special deep-water ports with big shore equipment.
How Capesize ships are chartered
Capesize ships are chartered on voyage charters for single cargoes, on contracts of affreightment for regular shipments over a period, and on time charters. The freight and hire move with the supply of ships and the demand for iron ore and coal, so they change a lot over time. The market indicator that many people follow is the Baltic Dry Index.
Is Capesize right for you
Capesize makes sense when you ship 100,000 tonnes or more at once from a deep-water port to another. For a smaller cargo of 50,000 to 80,000 tonnes look at Panamax, and for 30,000 to 55,000 tonnes look at Supramax. A cargo split into several parcels over a few weeks may work better under a COA with smaller ships.
What to include in a request
The cargo and the exact quantity range, the loading and discharging ports and terminals, the laycan, the loading and discharging rates and the draft limits of the berths. Ship operators use these details to find ships that can load the cargo in the window. Read how to charter a ship for the full process.
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