Dry Bulk Market: Capesizes Record Third Weekly Gain | Offshore Jobs | |
Capesize For the first half of the week, the market faced subdued activity, particularly in the Pacific with a slight downward movement on rates on C5. The Atlantic market also experienced limited activity, with discussions on C3 reflecting a somewhat subdued sentiment. As the week progressed, the Pacific saw lower trading volumes, resulting in a decline in market activity and increased pressure, with rates on C5 dropping by approximately a further 85 cents. However, the Atlantic witnessed heightened activity late in the day, particularly originating from South Brazil and West Africa to the Far East. A positive shift occurred in the pacific on Thursday, with two out of three miners actively participating in the market, accompanied by a handful of operator-controlled cargoes, halting the rate decline on C5 and leading to a notable recovery of lost ground. As the week draws to a close, all three miners have been present and C5 has surged by $1.35. The Atlantic market also saw increased activity, contributing to significant rate recovery, especially from South Brazil and West Africa to the Far East routes, with the early arrival demanding a significant premium. The North Atlantic, although relatively quiet, maintained positive sentiment due to a fresh influx of cargoes and constrained tonnage supply, resulting in significantly stronger fixtures towards the end of the week. The BCI 5TC started the week at $22,447 and dropped to $20,029 by mid-week to close today at $28,071. Get More Info : https://www.seaandjob.com/dry-bulk-market-capesizes-record-third-weekly-gain/ SEA LINE GROUP DILKAP CENTRE, 501, SAKINAKA - KURLA ROAD, NEXT TO AAKRUTI RESIDENCY, SAKINAKA, ANDHERI (EAST),MUMBAI-400072 Tel : +91-22-28505051 / 28505052 / 8655075186 / 8655012282 Email : roni@seajob.net URL : www.seajob.net | |
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| Target State: All States Target City : MUMBAI Last Update : Nov 27, 2023 2:56 AM Number of Views: 39 | Item Owner : Roni Abraham Contact Email: Contact Phone: +91-22-28505051 |
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