According to the Baltic Exchange,Classic Maritime has locked in the 179,400-dwt Lake Dolphin (built 2011) for 10to 14 months in a deal that carries a rate of $35,000 per day.

One observer says they were surprised bythe terms of the charter since capes with similar specifications are currentlyfetching around $26,000 daily when fixed for a year.

While this is $2,000 lower than lastweek’s average it is still higher than the $20,500 day rate seen in today’sspot market, which is roughly 18% below levels logged only 24 hours ago.

Global