Another day, another capesize period fixture – today, Diana shipping is reported to have fixed one of its capes to Cargill on a short-term contract.
Baltimore (177,243 dwt, built 2005; pictured) was reportedly fixed to the commodity trader for five to eight months at a daily rate of $7,750 daily, minus 4.75% commission, according to Baltic Exchange data. The vessel will deliver in Lanshan, China on Friday.
The rate is a big discount on the $15,000 per day (minus 5% commission) the vessel has been earning since being fixed to RWE Supply & Trading in July 2013.
Meanwhile, the gulf between period and spot rates continues to widen for capesizes.
The weighted timecharter average rate (TCA) of the Baltic’s five major capesize routes was today assessed at $5,530 per day, a $193 decrease from Wednesday’s level.
The capesize TCA rate has fallen every consecutive trading day since July 15, when it reached a near-two-month peak of $7,548 per day.