BDI Down Slightly

Wednesday, April 12, 2000
The Baltic Dry Index (BDI) was down 3 points on Wednesday to 1,681, Panamax up 3 to 1,516, Capesize down 15 to 2,354 and the Handy up 3 to 1,184 points. Softer rates in the Atlantic caused the decline in the Capesize index by 15 points, the first fall since March 24, but leaving the index with a net gain of 540 points since the start of the year. Firmer rates for Panamaxes were seen in the Atlantic with Cargill taking the 1995-built Stalo 73,000 dwt delivery Morocco mid-April trip via East Coast South America redelivery Skaw-Passero at $11,600 daily. Also, unnamed Far Eastern charterers fixed the 1988-built Hanza 70,200 dwt delivery Italy spot for a trip via US Gulf or Brazil to the Far East at $11,500 daily. Brokers reported strong demand for Lakesize tonnage but details of fixtures were yet to surface.

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