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Atlantic Panamax

Atlantic Panamax Rates Weaken

The buoyancy detected in the Atlantic Panamax market over the past two weeks has waned, brokers said. Fresh orders from the U.S. Gulf were described as light and the limited opportunities in the area could prompt Panamax owners to accept softer levels, they said. Restricted barge movement along the Mississippi was also said to be contributing to the situation, while a number of Far East participants had yet to return to business after the Lunar New Year holiday. Despite the slowdown, brokers did report a number of fresh enquiries. Grain cargoes seeking Panamax transport included some heading to the Far East from the U.S. Gulf and others heading towards Egypt. Whether the softer Atlantic Panamax undertone would persist, however, or whether the market would bounce back, remained to be seen, brokers said. In the wake of the seven-point drop on the Baltic Panamax Index on Tuesday afternoon, brokers continued to speculate on future developments. - (Reuters)


Panamax Trades Steady

Freight rates for Panamaxes trading the Atlantic appear to be steadying, Reuters reported. The more stable tone began at the end of last week, as renewed optimism crept into the U.S. Gulf market for nearby positions. By Monday, while the Atlantic routes on the Baltic Panamax Index were lower, losses were greatly reduced. Meanwhile, Pacific Panamax freight rates remained firm, and levels in the Far East sector continued to rise


Panamax Rates Hold Steady

Freight rates in the Atlantic Panamax sector held steady on Wednesday amid signs that recent rises may be stalling, brokers said. "The Atlantic is holding up well, but the question is not whether the Panamax market will rally further, but when the Atlantic will come off," one said. Until then, Atlantic and Pacific Panamax rates were expected to remain steady. Signs that the market was reaching its pinnacle were heralded by the Baltic Panamax Index (BPI) on Monday


Pacific Panamax Rates Remain Steady

Freight rates for panamaxes trading the Pacific remained firm due to a flurry of business ahead of the Lunar New year, shipbrokers said on Tuesday. In the Far East, owners of larger panamax sizes have been negotiating firm returns recently and continue to do so. Chinese charterers told shipbrokers that business there will grind to a halt between January 24 and 30 in observance of the Lunar New Year celebrations.


Atlantic Panamax Rates Firm Up in Far East

Atlantic panamax freight rates are softer in contrast to returns for panamaxes trading the Far East where rates are firmer, shipbrokers said on Tuesday. Atlantic freight rates, however, could stabilize in the days ahead, they added, suggesting that the Pacific panamax rate rise could be reaching a peak. The reason behind the Atlantic stabilization theory is that ice problems in the Mississippi may not be as bad as originally thought.


Dry Freight Markets Steady

Conditions on the dry cargo freight market were generally steadier for Capesizes on Wednesday, with the Baltic Cape Index posted at an unchanged 2,171, brokers said. Atlantic Panamax rates rose further and brokers said conditions were also slowly improving for owners in the East for later May positions. The South African sector remained firm. The Baltic Dry Index (BDI) gained two points to 1,611 and the Baltic Panamax Index rose 10 points to 1,522


Capers Continue Firm, Uncertainty Rules Panamaxes

Conditions for Capesize vessels remained firm on Dec. 10, especially in the Atlantic, but uncertainty ruled the Panamax sector as owners sought to cover their vessels in advance of impending holidays, brokers said. Lower rates were reported in the Atlantic and the Pacific, but brokers said the Indian Ocean and South African sectors stayed firm. The Baltic Dry Index (BDI) rose four points to 1,360, the Baltic Panamax Index was unchanged at 1,277, the Baltic Capesize Index gained 14 points to 1


Panamax Rates Under Pressure

Freight rates in the Atlantic Panamax market remained under pressure and were expected to move even lower in the near term, brokers said on Monday. While Atlantic rates continued to slide, Pacific business was holding up for the time being but was expected to tail off in due course, brokers said. Fresh cargoes had emerged in the Pacific for Panamaxes, but Japanese and Chinese owners had also started to place their tonnage on the open market.


Panamax Sector Is Soft

The Atlantic panamax sector remains soft, shipbrokers said, adding that the number of spot ships available for hire is keeping freight rates depressed especially as new business is limited. Subsequently, charterers have the upper hand, as shipowners and brokers wait for fresh orders. Despite the slow start to the week, shipbrokers are hopeful that more business will develop. Until these orders appear, however, shipowners with early tonnage are likely to find softer fixture rates inevitable


Panamax Trades Firm

Freight rates for Panamaxes trading the Pacific remained firm due to a flurry of business ahead of the Lunar New year, shipbrokers said on Tuesday. In the Far East, owners of larger Panamax sizes have been negotiating firm returns recently and continue to do so. Chinese charterers told shipbrokers that business there will grind to a halt between January 24 and 30 in observance of the Lunar New Year celebrations. Brokers added that the impending holiday will start to affect the Panamax


SwissMarine Hires Diana's Capesize Bulker

Courtesy Diana Shipping

  Diana Shipping Inc. today announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v Aliki. The gross charter rate is US$5,300 per day


Containership Charter Market: Back To The Bottom

Graphics: Clarksons Research

 The dust has now settled on the brief rally and subsequent dramatic downturn of the containership charter market in 2015, says  Clarksons Research.   After a good few years in the doldrums, last year saw some fairly animated movements in boxship charter rates


Diana Shipping to Acquire Three Panamax Ships

Diana Shipping Inc. has signed, through three separate wholly-owned subsidiaries, three Memoranda of Agreement to acquire from a related party three Panamax vessels for an aggregate purchase price of $39.8 million. These vessels are the m/v Sunshine, a 2010 built Panamax dry bulk vessel of 75


AIWA Highlights Investment Needs on the Nation’s Marine Highways

Pickel

Nowhere is that more important than on the Atlantic Intracoastal Waterway. As 2016 begins, we at the Atlantic Intracoastal Waterway Association (AIWA) are looking forward to participating in the ongoing dialogue regarding the need for strategic investments in the Nation’s Marine


TORM Product Tanker Freight Rates Climbs Up

TORM Gerd.  Photo by TORM A/S

 TORM’s strong operational platform has delivered the highest product tanker freight rates since 2008 and a positive EBITDA of USD 96m in the third quarter of 2015, says its CEO Jacob Meldgaard.   TORM has demonstrated its financial and strategic flexibility with the exit from


Diana Adds Capesize Dry Bulk Vessel

Diana Containerships Inc., through a separate wholly-owned subsidiary, it has taken delivery of the m/v Hamburg, a 2009-built Post-Panamax container vessel of approximately 6,500 TEU capacity that the Company entered into an agreement to purchase in July 2015.  


Diana Shipping Fixes Two Bulkers

Los Angeles Photo Diana Shipping

  Diana Shipping Inc. today announced that through a separate wholly-owned subsidiary, it has entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its Newcastlemax dry bulk vessels, the m/v Los Angeles


Diana Charters Out Two Bulkers

Santa Barbara Courtesy Diana Shipping

  Diana Shipping Inc. a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it agreed to extend the present time charter contract with RWE Supply & Trading GmbH, Essen, Germany


NOIA Rebuts “Red Herring” Study on Atlantic Development

(NOIA) Randall Luthi President of the National Ocean Industries Association

  NOIA President Randall Luthi issued the following statement regarding a report released today by SELC which attempts to discredit an earlier study by Quest Offshore:   “The Quest Study estimates the potential for jobs, economic activity and government revenue that could be


Capesize Values Drag but Earnings Set to Rebound

Dry bulk asset values dropped sharply in November and have reached 16-year lows, partly driven by very weak sentiment over the near-term future for vessel earnings, according to the latest Dry Bulk Freight Forecaster from shipping research and consultancy firm Maritime Strategies International


Baltic Index Higher on Firm Panamax Rates

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, inched up on Monday, helped by firmer panamax rates.   The overall index rose one point, or 0.21 percent, to 478 points.  


Reederei NSB Widens Panamax-class Container Vessels

Photo by DNV GL

 In an unprecedented endeavour, the ship manager Reederei NSB is widening its Panamax-class container vessels. DNV GL, the class in charge, is on board, says a report in DNV GL, Maritime Impact.   Too young for scrapping, too old to compete: Roughly 500 Panamax-class container ships


Star Bulk Offloads Four Capesize Vessels

Pic: Star Bulk Carriers

 Star Bulk Carriers has entered into agreements to sell four newbuilding Capesize vessels to unaffiliated third parties for an aggregate gross price of $148mln.   The vessels are currently under construction in China at Shanghai Waigaoqiao Shipbuilding.  


Ports America to Operate Intermodal Transfer Service

Seagirt Marine Terminal Photo Maryland.gov

  Ports America Chesapeake and CSX Intermodal Terminals today announced a new agreement designed to immediately enhance the competitiveness of the Port of Baltimore and position it to capture additional freight business through more efficient service


Diana Secures Time Charter with Transgrain

Nirefs (Photo: Diana Shipping)

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with Transgrain Shipping B.V., Rotterdam, for one of its Panamax dry bulk vessels






 
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