Shipping News

DRY TRADE CAPESIZE: The market is lacking direction and excitement. Finally we see the floor reached for now in the Far East, with a number of fixtures down around USD 6.65-6.70 pmt for West Australia to China (against the lowest done last week at USD 6.45 pmt). The front haul seems under pressure, with lack of cargoes and more ballasters, and rates as dropping. The Chinese are preparing for lunar New Year, and remain inactive for the beginning of this year, resulting in limited spot activity.