AsiaDry CargoEurope

Diana capesize fixed on period charter

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.

Baltimore is the third capesize bulk carrier to be fixed on period charter this week, following two Alcyon-owned capes fixed respectively to Louis Dreyfus on Tuesday and Oldendorff on Wednesday.

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.


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.
Back to top button