SS&Y Pacific And Atlantic Capesize Indices Drop
, Spence and Young's Pacific Capesize Index
fell 45 points to 5,284 in the week ending March 27.
"The Pacific sector remains tight, with owners gaining firm rates in a positional market," SS&Y said. "Tonnage is scarce for early positions, allowing owners to play a stronger hand," SS&Y added.
SS&Y's Atlantic Capesize Index fell 85 points to 5,179 in the same week.
"The fall in this week's index was due to rates obtainable for Richards Bay/Rotterdam and Bolivar/Rotterdam, down to around $10 and the mid $7 respectively," SS&Y said. "However, there is a firm belief that the market will remain strong, with South Korea in particular still an area of heavy demand for capers from the Atlantic," SS&Y added.