Freight Market Quiet

Few significant developments emerged on Wednesday as the dry bulk market appeared to be stabilizing in most areas, reflected in the latest moves of the Baltic indices, brokers said. The Baltic Freight Index (BFI) rose 12 points to 1,397, the Baltic Panamax Index gained 18 points to 1,335, the Baltic Handy Index firmed three points to 959 and the Baltic Capesize Index was up four points to 1,901. The Capesize sector was quiet although rates were generally unchanged, while Panamax rates in the Far East sector looked to be very steady, especially the more modern types. There were some signs of easier conditions for handy-sizes in the Far East and possibly also in the U.S. Gulf and South America but differences in freight rates in the Atlantic so far appeared to be marginal.