Indices Post Gains, Rates Holding Steady To Firmer

The dry cargo market was quiet last Wednesday because of a holiday in Japan, but the Baltic indices posted gains as rates were perceived to be holding steady to slightly firmer, brokers said. The Baltic Freight Index (BFI) rose six points to 1,211, the Baltic Panamax Index gained five to 1,181, the Handy Index firmed six to 902 and the Capesize Index was up four to 1,398. Activity was expected to remain quiet for the rest of the week due to holidays in Japan, South Korea and Taiwan over the course of the week. Grain chartering remained quiet with no vessels fixed on any key routes. However, the 1978 built Thebro and the 1977 built Velos were both booked to carry 55,000 tons wheat each from the U.S. Gulf to Egypt at $13 shipment September 20/22, and $13.50 shipment October 1/10 respectively. Caper business in the coal and ore trade was almost non-existent, with the 1976 built Regina fixed for 120,000 tons ore Saldanha Bay/Huangpu October 15/30 at $7.45 the only reported business. In the timecharter sector the 1985 built 214,263 dwt bulker Eleftheria (ex-Senho) was taken by Hanjin delivery Rotterdam October 12/20 trip via Ponta da Madeira redel South Korea at $12,600 daily.