SSY Pacific Capesize Index Rises Again
Shipbrokers Simpson, Spence and Young's Pacific Capesize Index reported a gain by 241 points in the week ending Monday to 4,915.
"The SSY Pacific Capesize Index increased by 241 points week-on-week to a 16-week high of 4,915 points. A $650/day rise in the Pacific round-voyage rate (180k dwt) was modest compared to increases in Atlantic earnings however, this was still enough to lift it to a year-to-date high of $16,000/day. The W.Australia-China iron ore spot rate rose by $0.15/t to $7.25/t." SSY said.