Stiff Rate Increases Seen For Atlantic Capers

Friday, October 01, 1999
Some stiff rate increases for Atlantic capers were seen for business to China and for trans-Atlantic coal, brokers said last Wednesday. Panamax rates were still drifting from the U.S. Gulf due to lack of orders, but levels in the Far East for these vessels remained firmer, they added. Conditions for handy size vessels and to a lesser extent smaller geared tonnage, were generally better in the Atlantic. The Baltic Freight Index (BFI) rose six points to 1,223, the Baltic Panamax Index gained five points to 1,186, the Baltic Handy Index firmed seven points to 930, and the Baltic Capesize Index was also up seven points to 1,412. In the grain sector, brokers said they were not surprised by reports that the 1998 built Mint Condition had been fixed by unnamed charterers for 54,000 tons heavy grain U.S. Gulf/Japan for mid October at a weaker $21 no combo. They said this fixture confirmed the decline of the U.S. Gulf panamax market. On the minerals side, talk circulated the market of significantly higher rates conceded by charterers for capers in the trans-Atlantic coal trade, and rates iron ore business to China was said to have jumped sharply.
Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

New Products

Jacksonville Dedicates New PORTSĀ® Real-time Data System

Officials from NOAA, the Jacksonville Marine Transportation Exchange, and the Jacksonville Port Authority officially dedicated a new information system today

Hyundai Heavy Industries Develops HiCASS

Hyundai Heavy Industries Co., Ltd. (HHI) announced today that it developed Hyundai Intelligent Collision Avoidance Support System (HiCASS) for the first time in

General Dynamics Launches Morgan County NextGen-911

General Dynamics Information Technology, a business unit of General Dynamics, has implemented a NextGen-911 emergency service solution for Morgan County, Ohio.

Bulk Carrier Trends

Freeport Says Indonesia Exports Could Resume Soon

Freeport-McMoRan Inc said on Wednesday it expects to "imminently" sign an agreement with Indonesia that would enable it to immediately resume copper concentrate

Global Ocean Trade: Latest Shipbuilding Orders

No tankship orders noted the past week by Clarkson Hellas in their latest S&P Weekly Bulletin, but no lack of orders in the dry bulk carrier market, all from Far East shipbuilders.

Scorpio Bulkers Gets $540m Loan for Newbuilds

Scorpio Bulkers Inc. announced that it has received a commitment for a $540 million loan facility and provides an update on the financing of its fleet. On July 21,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Offshore Oil Pipelines Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar
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: 0.1806 sec (6 req/sec)