August 30, 2008

Capesize freight rates go reach quarter of a million a day

It is reported that strong demand in the Atlantic from South America and the US is pushing Capesize spot prices to new highs likely to crack November's record USD 253,000 a day.

As per reports, Capesize ships were fixed for around USD 250,000 a day and prices are likely to remain stratospheric for the coming couple of weeks as tonnage remains stretched in the Atlantic.