Yes, it has got that bad: $1,000 a day for a capesize

Thursday 27 November 2008

DIRE capesize conditions saw Cargill fix a Mitsui OSK Line re-let for $1,000 per day, as the Baltic Exchange average time charter rate hit its lowest ever recorded level, writes Jamie Dale.

US-based commodities multinational Cargill fixed the 180,180 dwt, 2007-built MOL re-let Linda Dream for a transatlantic round voyage well under the Baltic Exch...