Baltic Panamax Index Down

Wednesday, November 03, 1999
The Baltic Panamax Index was down 3 to 1,253 points last Wednesday, the Capesize down 16 to 1,739, the Handy Index down 4 at 954 and the Dry Index down 7 to 1,313 points. Brokers reported generally sluggish conditions in the freight market. Cargill booked 55,000 heavy grain USGulf/Holland with Ateni at $12 and were also understoood to have fixed Bariloche for 54,000 heavy grain Baie Comeau to Japan for Nov 12/25 at $21.50 no combo although some sources put the rate at $22.25. Rates were weaker again from South America where Toepfer fixed Lucija for 30,000 grains 53 ft Tubarao/Lisbpon-Hamburg range Nov 10/20 at a lump sum equivalent of only $15.50.

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