Freight rates for Pacific, Atlantic basin continue to rally

摘要

Singapore—Freight rates for Asia-Pacific regional and Atlantic basin continued to rally July 29, with significant gains seen on some routes. “Pacific routes lead the push and operators all drive the market up,” a shipbroker said. Adding to the positive sentiment was a thriving paper market, which strengthened owners’ confidence and firmed the upward momentum. Crew changes remained a major issue potentially resulting in tightening tonnage supply due to longer quarantine time, market sources said. The bunker price inched up, which was also a supportive factor for the freight market.