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 Reporter June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Indonesia Expects Total to Decide on Mahakam within days

French oil firm Total  will decide how much interest it will retain from 2018 in Indonesia's offshore Mahakam oil and gas block over the next two days, the

Asia-N Europe Container Freight Rates Jumps 60%

Shipping freight rates for transporting containers from ports in Asia to Northern Europe rose by 60.4 percent to $879 per 20-foot container (TEU) in the week ended on Friday,

Research Vessel Heincke: Serving Science for 25 years

7 July 2015. A quarter of a century old, with over 900,000 kilometres (488,842 nautical miles) logged and still on the cutting edge of science and technology:

Bulk Carrier Trends

MSC Geneva Gets Fatter

A revolutionary new option to scrapping for younger panamax containerships deemed too small for a tradelane involves widening the vessel rather than adding length.

Grimaldi Orders Three PCTCs

After signing an order for the construction of five new ships two weeks ago, the Italian shipowner  Grimaldi Group has signed another contract for the construction

Is It Too Late To Tangle With Spike in Shipping Market

A series of interesting and extreme price spikes is going on in the shipping market today, says Clarksons, provider of global shipping and offshore market intelligence.

 
 
Maritime Contracts Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Simulators Sonar
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: 0.1175 sec (9 req/sec)