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Capesize ceiling nowhere in sight

Capesize ceiling nowhere in sight

Hong Kong: Like a scratched record Seatrade Asia Online can once again report capesize rates have hit new highs and are now at the point where greedy owners can realistically hope a $200,000 a day fixture might be concluded this year.
A 211,485-dwt ship built in 1997 was fixed last week at the highest-ever rate of $165,000/day for a Hamburg-Brazil-China sailing. In cross trades on the Atlantic-Pacific routes, fixtures at rates higher than $150,000/day are now commonplace. In addition the time charter market is going through the roof. Morgan Stanley has fixed a 171,015-dwt ship completed in 2004 at $110,000/day for 11-13 months.  [20/08/07]


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