Friday, 02 October 2015 00:05

Market Report - October 2, 2015

The weak market is directionless at the moment with optimism for a year end lift rapidly fading. The Baltic Dry Index closed yesterday on 888 points compared to 922 points last week and 883 points the week before.


  Cape Size    







Last week




Spot time charter     

 $ 13,600/day     

 $ 5,600/day 

$  7,300/day 

One week ago

 $ 13,700/day

 $ 6,000/day 

$  7,700/day

Containers:  Despite the so called “high season” the number of laid up container ships of over 500 TEU capacity has increased by 90,000 TEU of capacity in the past two weeks to reach 673,000 TEUs or 3.4% of total global capacity, the highest rate since March 2014, according to our well informed friends over at Alphaliner. There are now around 200 vessels unemployed reflecting abysmal freight rates and despite capacity reduction in east-west and north-south trades alike. At the same time around 480,000 TEU of new capacity has been added to the world fleet in the past 3 months alone.

Read 1399 times Last modified on Thursday, 01 October 2015 16:14
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