Freight rates set to remain buoyant for next two years

CAPESIZE freight rates could hit $300,000 a day with the market only starting to level out in 2010, according to Tata NYK Shipping.

Tata NYK managing director Rajiv Mukerji forecasted an extremely bullish freight market till 2010 when demand and supply will begin to level off, providing stability in the rates by around 2012.