SSY Pacific Capesize Index gain by 432 points

Shipbrokers Simpson, Spence and Young's Pacific Capesize Index gain by 432 points in the week ending Monday to 4,387.

"A weekly gain of 432 points lifts the SSY Pacific Capesize Index to 4,387 points. This is 940 points above the year-ago level. An increase in iron ore chartering activity from West Australia led to a significant improvement in the Pacific, with round-voyage rates (180k dwt) rising by $5,850/day last week to $14,350/day, while the Dampier-China iron ore spot rate climbed by $1.30/t to $6.95/t".