SS&Y's Pacific Capesize Index Rises 912 Points

Shipbrokers Simpson, Spence and Young's Pacific Capesize Index rose 912 points in the week ending Monday to 4,199. Problems with a dedicated vessel loading at Richards Bay for South Korea, along with increased Japanese activity, produced a firmer Pacific market, which saw a strong gain in the Pacific index, SS&Y officials reported, adding that several of the index's component routes firmed to over $2 a ton.