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Strong revival of capesize rates continues.
(From Lloyds List)
Byline: Keith Wallis in Hong Kong
DryTrade
CAPESIZE rates have continued to firm this week after the market began one of its periodic recoveries last Thursday.
Shipowners saw improvements in all areas, especially on spot cargoes from Brazil to China which were worth $37 a tonne this week, up more than $1 from last week's rate.
Fearnleys said modern 172,000 dwt tonnage in the Atlantic had achieved about $79,000 a day for a trip between Brazil and the Far East.
One Hong Kong broker said the surge of cargoes that came out last week for September and October fixing had continued this week. Some charterers that were holding back decided to jump into the market rather than risk fixing at higher rates next week.
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