Oct. 29 Daily Dry Bulk Comment

2013-10-30

A moderate amount of dry bulk vessels were chartered in the spot market today, including a much larger amount of capesize vessels chartered to haul iron ore cargoes. However, capesize rates have remained under a large amount of pressure due to the lull in iron ore cargoes seen during the last few weeks. This lull has allowed many capesize vessels to become available in the spot chartering market, which is putting pressure on capesize rates. Panamax rates have remained under a moderate amount of pressure due to oversupply in the spot panamax market. As with last week, only supramax and handysize rates are currently finding any support.

Source from : CNSS

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