Shipbrokers Simpson, Spence and Young's Pacific Capesize Index fell 27 points to 4,428 in the week ending Dec. 6.
"A flat week led to a dip of 27 points as the Queensland
/Rotterdam route fell 40 cents while routes to Beilun strengthened," SS&Y reported. "Forecast for seaborne trade in steam and coking coal and iron ore look bullish for 2000. A slow first quarter will be turned around by the second quarter for an optimistic 2000 for owners," SS&Y added.
SS&Y's Atlantic Capesize Index rose five points to 4,425 last week.
"The index had a flat week rising just five points but average earnings for a standard Capesize vessel (161,000 dwt) across the four BCI routes, have risen by 65.7 percent to $16,204 daily from their second quarter low," SS&Y reported.