Capesize market ‘red hot’: Baltic

London: The Baltic Exchange reports that the capesize market is “red-hot for now with no end in sight as more cargoes pile into the market and tonnage is ‘incredibly tight’ in the Atlantic.”

A 170,000-tonne 1997-built vessel open mid June on the Continent fixed for a trip via Brazil to South Korea at $90,000 daily – and a $100,000 daily does not seem far off, it says. “Chinese demand continued to dominate, but per-tonne miles has a key role to play in the dynamics of this market.

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