Worldwide Capesize Rates Continue To Firm

Friday, February 25, 2000
Capesize rates firmed again worldwide, but brokers said charterers were increasingly conducting business under the counter. Panamax rates were also firmer east of Suez with both Chinese and Japanese charterers active in the Indian Ocean and the Pacific, while Atlantic Handysize conditions remained in the doldrums, they added. On Feb. 23, the Baltic Dry Index (BDI) rose 10 points to 1,491, the Baltic Panamax Index gained one point to 1,419, The Baltic Capesize Index jumped up 27 points to 2,055 and the Baltic Handy Index firmed three points to 1,008. There was confusion in the grain market concerning the alleged involvement of EMC in a fixture of 54,000 tons heavy grain U.S. Gulf/Japan for early March which was said to have been concluded at somewhere between the weaker levels of $20.50 and $21. Confirmation was not available but some credibility was lent to these reports by news that modem Panamaxes in the U.S. Gulf first half March were said to be willing to accept lower timecharter rates U.S. Gulf/Far East in the region of $10,000 daily plus a $200,000 ballast bonus. Some brokers believed that there were seven Panamax grain cargoes remaining to be shipped U.S. Gulf/China in March. However, the most common view of the situation for Atlantic Panamaxes was that the market was not moving in the owners favor, and that there seemed little likelihood of any change until the South American market kicked in. In assessing the continued strength of the Atlantic Capesize market, brokers commented on the significant delays in loading ports in Brazil and Colombia and discharging reports in Europe. It was also said that charterers were increasingly conducting off market business to disguise their activities. - (Reuters)

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Gener8 Maritime Net Income Up 91%

Announcing its financial results today for the three and six months ended June 30, 2016 Gener8 Maritime, Inc. reported net income of $38.0 million, or $0.46 basic and diluted earnings per share,

Navios Maritime Posts 2Q Profit

Navios Maritime Midstream Partners LP (NAP) has reported second-quarter earnings of $5.9 million.   It says revenue for three month period ended June 30, 2016 increased by $4.

Safety and Preparation on the Brownwater Radar

Weather Channel Forecasters are predicting a “near-average” hurricane season for 2016, but warn that an average season does not mean businesses and residents shouldn’t prepare for the worst.

Bulk Carrier Trends

Safe Bulkers Reports Q2 Loss, Expands Fleet

The Athens, Greece-based Safe Bulkers Inc. (SB) has reported a loss of $9 million in its second quarter.  It had a loss of 15 cents per share.   Net revenue for Q2 of 2016 decreased by 18% to $26.

Asia Dry Bulk-Capesize Steady as Owners Spurn Low Rates

Owners anchoring ships rather than fix at low rates. W. Australia-China capesize rates hit over two-month low. Freight rates for large capesize dry cargo ships

Scorpio Bulkers books Net Loss

USA-Monaco based bulk carrier Scorpio Bulkers has reported a loss of $24.7 million in its second quarter of 2016, pushing the carrier's deficit up to $ 83 million.

 
 
Maritime Security Naval Architecture Navigation Offshore Oil Pod Propulsion Ship Electronics Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0641 sec (16 req/sec)