Supramax RSA Summary 2021

2021 CTM Supramax RSA Figures

2021 was an exceptional year for the dry bulk market with rates hitting their strongest levels in over a decade (and since 2008 for the Supramaxes) so being on the spot market was the most lucrative option for an owner! 

Chief Commercial Officer, Carlos Pena said “2021 was a fantastic year for the dry bulk market, a lot of it being pandemic-driven, and despite a steeply rising index we returned the market to our members. The RSA is a results-driven, owner-oriented platform providing efficiencies and flexibility at a very low cost going over and beyond just being a simple vessel managing vehicle”. 

With an average of 68 vessels over the year, the CTM Supramax Revenue Sharing Agreement (RSA) once again proved itself to its members and to the market delivering outstanding results with an average monthly outperformance of +5% over the second half of the year and a strong +15% in the fourth quarter vis a vis the Baltic Supramax Index (BSI 58). 

2021 Highlights: 

  • 24,000 days fixed worldwide.
  • A standard BSI 58-type vessel earned almost $9.0 million net in the RSA.
  • 430 fixtures concluded in 2021, the equivalent of 36 fixtures per month, which shows our commercial management team’s experience and strong presence in the spot market day-in, day-out. 
  • RSA vessels achieved a utilization rate of 97% despite the challenges faced (delays and congestion, quarantines, reduced country trading options etc) which is one of the main advantages of pooling vessels together. 
  • CTM’s commercial and operations teams assisted RSA members with 31 crew changes (about one in two ships) and 21 dry docks/special surveys.
  • RSA vessels carried close to 24 million tonnes of cargo (over 50 different types!) and loaded cargoes at 59 different countries. 
  • We fixed with around 160 separate counterparties and 55 brokers. 
  • Offered our clients 24/7 service with worldwide market coverage via our chartering people in Europe and Asia.
  • 55 vessel movements in 2021 (entries & exits). 
What is more in 2021 we launched our in-house CTM RSA App where our members can see the RSA’s actual results, live fixture updates, CTM’s market reports, live vessel positions, forward coverage and rate information. 

Go to to find out more! 



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