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Capesize - Another week of gains as the Atlantic basin continues to be pressurised on tonnage and Brazilian cargoes keep up a steady flow...
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The Baltic Exchange’s main sea freight index hit a five-and-a-half-year high on Monday on the back of strong demand for capesize vessels shipping iron ore.
Panamax: Last Monday started very slowly with little appearing to trade anywhere. However, the market quickly continued its rapid rise as the Atlantic remained starved of early tonnage.
The Baltic Exchange’s main sea freight index rose to its highest in more than five and a half years on Wednesday, driven by demand for capesize vessels shipping iron ore.
The Capesize market surged over the past week, reaching highs not seen since August last year. Widespread activity in both basins saw a week on week lift of $7,084 to settle at $26,444.
Panamax - It was a strong week in the Atlantic with sources commenting they had rarely seen so few available ships on early positions...
Panamax rates rose today by 3.4%, which marks their largest increase since March 21st.
Supramax - The BSI has been climbing since last Thursday and gradually back to the level last seen in early June.