Dry Bulk Trends

Friday, March 31, 2000
Little Change Seen In Dry Cargo Market

The dry cargo freight market was generally little changed last week, with Capesize conditions remaining basically steady but quiet, brokers said.

Panamax activity was brisk from South America, but rates failed to advance as rapidly as owners had hoped for, they added.

However, some firmer rates were seen, with Cosco's fixture of a 1990-built 74,000 dwt vessel delivery north Brazil trip China at $11,500 daily plus a $250,000 ballast bonus.

Dreyfus was also active and paid a firmer $10,250 daily plus $265,000 ballast bonus for 1991-built Sea Ilex 66,000 dwt delivery Plate April 5/10 trip Continent.

On March 28, the Baltic Dry Index (BDI) rose four points to 1,627, the Baltic Panamax Index gained seven to 1,545, the Baltic Capesize Index climbed four to 2,211 and the Baltic Handy Index firmed three points to 1,136. - (Reuters)

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