Capesize freight rates plunge on cargo drop

摘要

Capesize freight rates plunged on a loss of coal cargoes in the Pacific after floods in Australian caused a build-up of available ships in both the Pacific and Atlantic. The average of the four main timecharter routes was $11,266/d today, down $7,431 from $18,697/d on 4 January. Coal shipments at Australia’s Newcastle port fell in the last week as ships took longer to load. Average waiting times rose to 15.58 days from 13.46 days while the number of ships waiting to load doubled to 18. But the number of vessels with an allocated arrival time and waiting in transit fell to 48 from 68.