Friday, 28 August 2015 10:08

Market Report - August 28, 2015

The bottom fell out of the previously recovering Capesize market this week resulting in the Baltic Dry Index closing well down yesterday on 905 points compared to 1014 points last week and 1046 points the week before.

 

  Cape Size    

   Panamax        

  Supramax 

Index 

       1051

       1000

        924

Last week

       1679

       1052

        901

Spot time charter     

 $   8,100/day     

 $ 8,000/day 

$  9,700/day 

One week ago

 $ 12,000/day

 $ 8,400/day 

$  9,700/day

Bunkers:  Turmoil across the world’s stock markets this week had a knock on impact on oil and bunker prices. In Singapore, the world’s largest bunker supplier, prices fell to a 10 year low  with CST380 heavy fuel oil hovering around $205 per ton. Prices in Singapore have now fallen a massive $375.50 pmt (64%) since exactly one year ago offering at least some relief against continuing weak global freight rates.

Read 1291 times Last modified on Friday, 28 August 2015 10:11
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