Subscribe to RSS feedVale gets blamed for rates slump
by
Liz McCarthy, London
—
last modified
Oct 02, 2009 10:13 AM
CAPESIZE rates have tumbled more than 75% since they peaked for the year just three months ago. The average time charter rate has fallen to US$22,000 per day, according to the Baltic Exchange.
Norwegian investment bank Arctic Securities said last week that ships re-entering the fleet after finishing short period contracts started before the summer spike had added to oversupply in the market.
The biggest fall has been on the fronthaul route,...
This full article is available to Lloyd's List DCN subscribers only.
If you are already a subscriber, please sign in below.
If you're not a subscriber and would like to experience the full benefits of Lloyd's List DCN with a 14 day trial, please click here.
Alternatively, click here to subscribe.
| Tweet |
