Worldwide Capesize Rates Continue To Firm

Friday, February 25, 2000
Capesize rates firmed again worldwide, but brokers said charterers were increasingly conducting business under the counter. Panamax rates were also firmer east of Suez with both Chinese and Japanese charterers active in the Indian Ocean and the Pacific, while Atlantic Handysize conditions remained in the doldrums, they added. On Feb. 23, the Baltic Dry Index (BDI) rose 10 points to 1,491, the Baltic Panamax Index gained one point to 1,419, The Baltic Capesize Index jumped up 27 points to 2,055 and the Baltic Handy Index firmed three points to 1,008. There was confusion in the grain market concerning the alleged involvement of EMC in a fixture of 54,000 tons heavy grain U.S. Gulf/Japan for early March which was said to have been concluded at somewhere between the weaker levels of $20.50 and $21. Confirmation was not available but some credibility was lent to these reports by news that modem Panamaxes in the U.S. Gulf first half March were said to be willing to accept lower timecharter rates U.S. Gulf/Far East in the region of $10,000 daily plus a $200,000 ballast bonus. Some brokers believed that there were seven Panamax grain cargoes remaining to be shipped U.S. Gulf/China in March. However, the most common view of the situation for Atlantic Panamaxes was that the market was not moving in the owners favor, and that there seemed little likelihood of any change until the South American market kicked in. In assessing the continued strength of the Atlantic Capesize market, brokers commented on the significant delays in loading ports in Brazil and Colombia and discharging reports in Europe. It was also said that charterers were increasingly conducting off market business to disguise their activities. - (Reuters)

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Vessel Discharge Amendment Push Continues

AWO voices strong opposition to McCain anti-Jones Act amendment   The American Waterways Operators (AWO) is continuing an intensive lobbying campaign to bring

NATO Launches Sea Mission Against People-Smugglers

NATO, EU mission to help target traffickers in Aegean Sea. NATO ships are on their way to the Aegean Sea to help Turkey and Greece crack down on criminal networks smuggling refugees into Europe,

Greeks at Frontline of Migrant Crisis Angry at EU Critics

ABOARD THE AGIOS EFSTRATIOS, Aegean Sea, Feb 11: Greek Captain Argyris Frangoulis lifts his binoculars and with eyes fixed on the Aegean Sea horizon, steers his

Bulk Carrier Trends

Baltic Index Pauses at Record Low

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, ended flat on Thursday after declining for 12 straight sessions

Top 10 Shipowning Nations by Value

VesselsValue has provided a list ranking the top shipowning nations by value, including the percentage change difference against 2015 figures. Although the

Port of Hamburg Reports Bulk Cargo Jump in 2015

The Port of Hamburg reports higher bulk cargo throughput and strong growth in rail and inland waterway seaport-hinterland traffic in 2015 – downturn in container handling.

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Offshore Oil Port Authority Ship Electronics Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0675 sec (15 req/sec)