SS&Y Capesize Indices Rise
SS&Y Atlantic Capesize Index Rises 53 Points
Shipbrokers Simpson, Spence and Young's Atlantic Capesize Index rose 53 points to 4,420 in the week ending Nov. 29.
"Increasing pressure on fronthaul rates, particularly for modern tonnage, has brought a firm tone to routes to the Far East
, and demand for end December in to the start of 2000 will keep owners optimistic that rates will climb further," SS&Y reported.
SS&Y's Pacific Capesize Index
rose 173 points to 4,455 in the same week.
"The Pacific Capesize Index has risen to its highest level since its inception in January 1997 as Chinese inquiry, which has been the prime mover of the recent firmer tone, remained a key feature," SS&Y reported. "It seems quite possible that the firm tone will continue in to the New Year as demand remains healthy," SS&Y added.