Dry Cargo Market Mixed

Friday, January 07, 2000
A one point gain on the Baltic Dry Index to 1,320 disguised some significant differences in freight market movements since the last trading day by the Baltic Exchange on December 24, brokers said. Capesizes appeared to have eased world-wide and there were reports of early vessels still available for employment, but Panamax demand strengthened significantly, especially in the Far East. Brokers said that there was an over-supply of handy sizes on the Continent but that conditions for these vessels were steadier from Brazil and Argentina. The Baltic Panamax Index jumped 36 points to 1,247, while the Baltic Capesize Index fell 31 points to 1,782 and the Baltic Handy Index slipped two points to 940. Grain charterers opened the year with brisk inquiry, brokers said. Toepfer quoted a fresh order of 55,000 tons heavy grain U.S. Gulf/Egypt for January 15/25, and it was reported that Dreyfus, Cargill, Zennoh and MISR also quoted similar business. Panamax owners were said to be asking $9,500/$9,750 for Atlantic round voyages. Timecharter rates for grain U.S. Gulf/Far East appeared steady on the evidence of Keoyang's fixture of the 1995-built Eleranta 73,500 dwt delivery U.S. Gulf mid-January trip Japan at $9,750 daily plus $200,000 ballast bonus. It was understood that other comparable fixtures had been concluded on private terms. In the Far East, the imminent announcement of the Pakistan grain tender contributed to firmer market conditions in that area. Little was heard of handy size grain activity in the Atlantic but reports circulated the market that Toepfer had booked Stella Tingas of 1.2 million cubic feet capacity before Christmas for Tampa/Ireland grain at $13.75/14.00 basis 53 feet.
Maritime Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Bulk Carrier Trends

Wage Row Between Argentine Crushers, Companies Reaches Crunch Point

Pressure grew on Friday for a resolution to wage talks between exporters and striking crushers in Argentina's Rosario grains hub, with another powerful union threatening

Vale to Ship Coal Along Mozambique Nacala Corridor

Brazilian miner Vale SA  plans to start exporting coal along the Nacala rail and port corridor in Mozambique and Malawi in the third quarter after heavy rains damaged the rail line,

Q88 LLC Opens Office in London

Q88 LLC has opened a new office in London. Located in Soho, the cultural center of London's West End district, the office will serve as a hub for business development and client relations.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
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: 0.0980 sec (10 req/sec)