Friday, 09 October 2015 00:05

Market Report - October 9, 2015

The bottom fell out of the Capesize market again this week leaving the Baltic Dry Index to close yesterday on 817 points compared to 888 points last week and 992 points the week before.

 

  Cape Size    

   Panamax        

  Supramax 

Index 

       1598

       736

        672

Last week

       1911

       704

        695

Spot time charter     

 $ 11,200/day     

 $ 5,900/day 

$  7,000/day 

One week ago

 $ 13,600/day

 $ 5,600/day 

$  7,300/day

Tankers: VLCC spot earnings have taken off over the past couple of weeks and have breached the $100,000 per day level on the main Middle East to Asia. The week’s Chinese ‘Golden Week’ holiday proably had an influence but even so, the lucky owners with vessels in place have had every cause to crack the champagne. The last time spot earnings topped $100,000 per day on the benchmark route was in July 2008.

Read 1505 times Last modified on Thursday, 08 October 2015 13:56
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