Capesize, Panamax Markets Remain Firm

Tuesday, February 15, 2000
The dry cargo freight market remained firm for Capesize tonnage worldwide and for Panamaxes in the east, brokers said mid last week. Conditions remained weak for Panamaxes and Handysizes but grain brokers reported a substantial amount of fresh Atlantic grain. However, for Handysizes in particular the Continent and Mediterranean were difficult areas for owners. The Baltic Dry Index (BDI) and Baltic Panamax Index rose 28 points to 1,393 and 1,348 respectively, while the Baltic Capesize Index jumped 48 points to 1,855 and the Baltic Handy Index posted a modest seven point gain to 984. Panamax activity was very limited with a few fresh fixtures reported.

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