Friday, 23 December 2016 00:15

Market Report - December 23, 2016

The Baltic Dry Index closed the year in a much stronger position, thanks to a recovery in the capesize sector, which saw healthy volumes of iron ore from Brazil to China resume. However, ass the year comes to a close the Cape market continues to slow down due to excess tonnage and limited stems in the East despite a more positive Atlantic fronthaul market.  The Panamax market has been difficult with charterers willing to wait for more favourable rate conditions before committing to vessels. Supramax are experiencing a more active finish to the year in Asia with some charterers favouring period commitments particularly in the Pacific.

        Capesize          Panamax            Supramax 
Index           1385          852         903       
One week ago          1048         1126         960
Spot time charter       $   10,078/day       $    6,826/day   $   9,445/day    
One week ago    $    6,729/day  $    8,994/day   $ 10,034/day

 

Read 251 times Last modified on Friday, 23 December 2016 11:11
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