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Handy rates gloom spreads to the Atlantic.
(From Lloyds List)
Dry Trade
AFTER the sustained slide in the Pacific it is now the turn of handy bulk rates in the Atlantic to join the race to the bottom, writes Rajesh Joshi in New York.
With brokers in certain parts of the world gearing up for holidays, it now appears to be a question of whether the market can hold a semblance of steadiness until autumn or whether a collapse into abject oblivion is ahead.
Round voyage Atlantic rates tracked by Fearnleys dropped by $2,500 a day during last week to $17,250 a day as the premium commanded by owners to go east fell. But this appeared disconnected with the rate scenario on the Pacific.
The gap between East and West ...
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