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$100,000 for a one-year capesize time charter

$100,000 for a one-year capesize time charter

Hong Kong: With capesize spot rates in six figures in all waters, time charter rates for big bulkers have now reached record levels with broker reports noting how a capesize was chartered out for between $96,000 and $100,000 for one year, at $80,000/day for two years and at $75,000/day for three years.

A 180,000-dwt capesize newbuilding, due for completion in late August 2007 by Japan's Imabari Shipbuilding, was fixed by Cargill for the extra-high charter rate of $100,000/day. A 175,000-dwt Capesize completed in 2006 was chartered for $96,000/day. As for two-year charter contracts, a 174,000-dwt Capesize, slated to be completed in November 2007 by Chinese builder Bohai Shipbuilding Heavy Industry, was contracted by Kleimar NV at $80,000/day. With regard to three-year deals, a 171,927-dwt Capesize completed in 2007 was fixed at $75,000/day.  [02/08/07]

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