Capesize Markets Quiet, Remain Firm

Maritime Activity Reports, Inc.

October 22, 1999

Capesize Markets Quiet, Remain Firm Capesize markets were quieter worldwide last week, although rates remained firm. Panamax rates made further headway in most areas, and Handysize conditions were slow in the Far East and in South America, brokers said. Bunker prices showed steep gains in the Far East, they added. The Baltic Freight Index (BFI) rose 11 points to 1,385, the Baltic Panamax Index gained 16 points to 1,317, the Baltic Capesize Index firmed 12 points to 1,897, and the Baltic Handy Index was up three points at 956. Owners' confidence that grain rates in the U.S. Gulf would shortly improve for Panamaxes appeared to have been justified, brokers said. -- (Reuters)
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