Caper Boom Not Over Yet

Friday, October 15, 1999
Caper Boom Not Over Yet There were no signs that the recent caper boom was over yet despite last Tuesday's relatively modest gain on the Baltic Capesize Index of 31 points to 1,753, brokers said. The slightly softer condition for early Panamaxes in the U.S. Gulf persisted but for end October and November positions there appeared to be a slight upward trend in rates, they added. Owners were said to be reluctant to ballast to the U.S. Gulf or the east coast of South America due to firm bunker prices. Panamax rates from the Continent and in the East were reported to be at the very least steady, while handy size rates were also generally steady but few details emerged about fixtures from the Lakes, U.S. Gulf or the east coast of South America. While the Baltic Freight Index (BFI) rose seven points to 1,308, the Baltic Panamax Index and the Baltic Handy Index were both unchanged at 1,236 and 945 respectively.
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