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Handy index misses landmark figure.
(From Lloyds List)
Dry Trade
THE Baltic Handymax Index bumped its head up against the $30,000 barrier last week, and was rejected after one try, writes Rajesh Joshi in New York.
Is this a glass ceiling, a merely temporary impediment that can be smashed through easily to reach the goodies visible beyond?
Or is it more like a tin roof, a sinisterly opaque object that could mean more than it appears?
If you think we know the answer you have obviously arrived at the wrong place. But, according to brokers, their main shipowner clients were not spotted in the breadline last week. So it should not matter either way.
The Pacific basin, by some accounts, emerged as last week's culprit. Fearnleys said rates dropped over there, although the brokerage's weekly composite number for a Pacific round voyage firmed by $100 to $29,100 a day.
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