Baltic Indices Fall In Thin Pre-Holiday Trade

Thursday, December 30, 1999
A lack of fresh chartering saw the Baltic indices under pressure, brokers said last week. The Baltic Dry Index (BDI) fell four points to 1,320, the Baltic Panamax Index also fell four points to 1,210, and the Baltic Capesize Index shed eight points to 1,824, while the Baltic Handy Index remained unchanged at 935. Grain business remained thin and was confinerd to the U.S. Gulf region with CAM fixing an unnamed vessel for 25,000 tons wheat to Algeria December 28/Jan 10 at $20, and Cargill who fixed 23,000/24,500 tons tons heavy grain Mississippi/Buenaventura prompt shipment at $15.25. The Baltic component rate for 54,000 tons heavy grain U.S. Gulf/Japan posted a modest gain for the first time in days, Thursday's fixing set at $20.050 against $20.007 on Wedneesday. Mineral chartering was relatively quiet but saw Ilva fix Almar 1 for 105,000 tons coal Richards Bay/Taranto January 22/February 5 at $8.60. - (Reuters)

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