Shipowners Increase Payments to Get Their Vessels to Atlantic

Shipowners facing a lack of business in the Pacific Ocean covered more of their customers’ costs to get their vessels to the Atlantic.
Costs on the C11 journey for shipments to Europe from Asia fell to minus $1,046 a day today from $958 on Jan. 14,  according to the Baltic Exchange in London. The rate went negative on Jan. 13, a first for any dry-bulk journey reported by the exchange which publishes daily assessments for more than 50 routes. Contributing to charter costs is more cost-effective for owners than sailing ships empty.
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Source: Bloomberg