SS&Y Capesize Indices Both Rise
July 24, 2000
Shipbrokers Simpson, Spence and Young's Pacific Capesize Index rose 76 points in the week ending Monday to 5,060. "The index rose back above the psychological 5,000 barrier despite a relatively quiet week," SS&Y said. "Japanese steel production was down on last month's highs but still remains a force to be reckoned with and South Africa is drawing tonnage away from the Pacific, giving further cause for optimism amongst owners." Meanwhile, its Atlantic Capesize Index rose 18 points in the week ending Monday to 5,162. "Few new cargo stems came to the market over the last week but one cannot discount the steady tone of the rates despite this," SS&Y said. "With indications that demand will remain firm, there is cause for optimism amongst owners that the coming weeks will see a rise in rates."
Related News
No Shortage of Good Ideas to Address the Mariner Shortage
Gulf Intercoastal Waterway Closed After Barge Strikes Bridge in Galveston
Houthis Claim More Ship Attacks, Targetting US Warship and Merchant Vessel
US Studying if Other Bridges at Risk After Baltimore Collapse
Collapsed Baltimore Bridge Blasted into Pieces