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 Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Zamakona, Finnish GS-Hydro Ink Deal

The presentation ceremony of the Finnish multinational leader in water services GS-Hydro, new partner of Zamakona Yards in Canarias was held yesterday (January 29th at 7 p.

Adani Group Revamps Businesses

Adani Enterprises Limited together with its subsidiaries Adani Ports and Special Economic Zone Limited (“APSEZ”) and Adani Power Limited (“APL”) today announced

PHA Budgets $ 275 mi for Capital Improvements

In 2015, the Port of Houston Authority has budgeted $275 million for various capital improvement projects. About $184 million is being allocated to its container

Bulk Carrier Trends

Baltic Sea Freight Index Falls to Lowest Level Since 1986

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, spiralled downwards to its lowest level in nearly three

Pacifica Rolls Out New Container Vessel

Pacifica Shipping, New Zealand's coastal shipping company, is launching a new container vessel from March replacing a smaller vessel whose charter has ended, reports The Stuff.

Shipping Pollution Will Skyrocket -Study

International freight volumes will grow fourfold by 2050 while the average length of haul will increase by 12 percent over that time, trends that will cause a spike

 
 
Maritime Careers / Shipboard Positions Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Salvage Ship Repair Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1096 sec (9 req/sec)