North Japan News

Atlantic Market Freight Rates Fall Steadily

Freight rates continue to fall in the Atlantic market as fresh grain enquiry failed to compensate a slowdown in demand, shipbrokers said on Monday. Brokers reported the chartering of the 1996-built Atalanta, of 73,301 dwt, for a Brazil to Iran voyage. The ship will load 60,000 tons of maize between July 18 and 25, with a freight rate of $19.80 per ton. In the timecharter market, the 2001-built, 76,397 dwt, Mega Wisdom had been chartered for July 6 to 12 North Japan delivery for a three to five months trading period at a daily rate of $10,500, brokers said. In June, rates were quoted between $9,900-$9,750 daily for early July delivery. Traders also said the Louis Dreyfus grain trader had chartered the 2001 built 74,766 dwt Angelic Grace for July 15 to 25 Recalada delivery.