Capesize Rates Ease

Easier conditions were seen for Capesizes in the Atlantic sector of the dry cargo freight market, brokers said last week. Some brokers believed that the gap between Capesize and Panamax rates could not be sustained and that some Capesize cargoes would be split into Panamax sizes. However, it was pointed out that Capesize contracts did not always permit this. Panamax rates were generally unchanged, while Handysize levels remained firm in the East and were said to be stronger from the east coast of South America. The Baltic Dry Index (BDI) was down two points at 1,684, the Baltic Panamax Index fell seven points to 1,513, the Baltic Capesize Index was unchanged at 2,369 and the Baltic Handy Index gained two to 1,181.