Thursday, May 8, 2008

Records tumble as capesizes go for quarter of a million a day

Strong demand in the Atlantic from South America and the US is pushing spot prices to new highs likely to crack November's record $253,000 a day in Hong Kong.

Ships were fixed for around $250,000 a day and prices are likely to remain stratospheric for the coming couple of weeks as tonnage remains stretched in the Atlantic and farmer blockades in Argentina lay up panamaxes.

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