Market Report
There are signs that sales activity is increasing even further. Tanker rates remain soft while the dry market continues to be on fire. In the cape market, USD 125,000/day has been done for a 1 year charter and a spot fixture reported at $180,000 from Brazil to China, with the BCI hitting record high levels at 11,434.
Just as a comparison, same time last year the BCI was around the 5,200 level. On the Panamax dry sector, the week has been even more impressive with the BPI closing at 8,837, or up 16% FOR JUST THIS WEEK. Same time last year, the BPI index was hovering at the 3,800 level. In dollars and cents, one year T/C rates for Panamax bulkers passed $70,000/day.
Source: www.hellenicshippingnews.com
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