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Cargill takes another Alpha Bulkers capesize on period charter

Cargill has taken a capesize bulk carrier owned by Alpha Bulkers on period charter for the second time in just over a week, as spot rates in the cape market continue to rise.

The trader is today reported to have fixed Alpha Confidence (176,320 dwt, built 2011) on a six- to nine-month charter for $9,000 daily, according to Baltic Exchange data. The ship will deliver in South China between July 20 and 22.

On June 24, Cargill fixed Alpha Hope (181,433 dwt, built 2011) for seven to nine months at $10,000 per per day, delivering promptly at Cape Passero.

Meanwhile, the capesize spot market continues to hot up. The Baltic’s weighted timecharter average rate for five major capesize routes (5TC) was today assessed at $7,490 daily, a $137 increase on Friday’s level.

The 5TC rate has advanced every consecutive trading day since June 22, when it was assessed at $6,107 per day.

Strengthening spot rates across all tonnages, but especially for capesizes and panamaxes, helped the Baltic Dry Index advance by 11 points to reach 688 today.

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Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
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