WHY ALL THOSE TIME CHARTERS?

There was a sudden increase in longer term time chartering for dry bulk carriers in June.  Specifically, for the first five months of 2006 the average number of time charters of six months or longer reported in each month was 54.  During the month of June, 103 such charters were reported.  Why the sudden increase in volume?  From an owner's perspective, this might be an effort to lock in a freight rate before an anticipated fall in the market; from a charterer's perspective, this might be an effort to lock in a freight rate prior to an anticipated rise in the market.  Obviously, they can't both be right.  The increase in chartering might itself bias the future result; removing a larger than usual number of ships from those available to charter would tend to increase charter rates.  Unless, of course, those recently chartered ships came back into the market as relets.