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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


Rosneft Cancels Rig Contract

800px-Rosneft_logo.jpg

  Russian oil firm Rosneft has cancelled a contract for a two-and-a-half year rig contract with Northern Offshore and Seadrill's North Atlantic Drilling Ltd, the Norwegian offshore driller said. Western sanctions against Russia, and Rosneft in particular


Baltic Sea Freight Index Flat on Muted Vessel Activity

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, remained steady on Thursday due to a muted vessel activity.   The index, which factors in the average daily earnings of capesize, panamax


Baltic Sea Index Down as Weak Demand Hits Vessel Rates

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Friday as lack of demand took a toll on rates for most of the vessel segments.   The index, which factors in the average daily earnings of capesize, panamax


Baltic Sea Freight Index Edges Higher

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged higher on Monday as rates rose for vessels across all segments. The index, which factors in the average daily earnings of capesize, panamax


Stronger Panamaxes Boost Baltic Sea Freight Index

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, made minor gains on Thursday on higher rates for the panamax and smaller vessel segments.   The overall index, which factors in average daily earnings of capesize, panamax


Baltic Sea Freight Index Up

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose Monday on higher demand for smaller vessels. The overall index, which factors in average daily earnings of capesize, panamax, supramax and handysize vessels, rose three points, or 0


Baltic Index Retreats with Falling Capesize Demand

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, slipped on Wednesday.   The index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell 3 points, or 0


Faltering Capesize Demand Drags Baltic Index

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, slipped further on Thursday on extended weaker demand for bigger vessels.   The index, which factors in the average daily earnings of capesize, panamax


Largest Ship Ever Calls on Savannah

The ZIM vessel Tianjin transits the Savannah River channel on March 18. At a capacity of 10,062 twenty-foot equivalent container units, the Tianjin is the largest ship ever to call on the Port of Savannah.

  The Georgia Ports Authority welcomed the largest ship ever to call on the Port of Savannah today when the ZIM Tianjin docked at Garden City Terminal. "This 10,000-TEU vessel represents the future of U.S.-Asia shipping," said Georgia Ports Authority Executive Director Curtis J


Baltic Index Advances with Rising Cry Commodity Vessel Demand

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, was lifted on Thursday by higher demand across all vessel segments.   The index, which factors in the average daily earnings of capesize, panamax


Diana Containerships Adds Two Panamax Ships

Diana Containerships Inc. announces agreement to acquire two Panamax container vessels   Through two separate wholly-owned subsidiaries, Diana Containerships Inc. has signed two Memoranda of Agreement to purchase two Panamax container vessels from an unaffiliated third party.  


Higher Rates Across All Vessel Segments Propels Baltic Index

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Friday, propelled by higher rates across all vessel segments.   The index, which factors in the average daily earnings of capesize, panamax


Baltic Index up With Rising Capesize and Smaller Vessel Rates

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, continued to rise on Monday, supported by positive capesize and smaller vessel rates.   The index, which factors in the average daily earnings of capesize, panamax


Arctic Melt Messing with Gulf Stream

The blue cooling spot south of Greenland: NASA GISS warming map 1901-2013

 As glacier melt in the Arctic continues to accelerate, the foot of the Atlantic's most powerful ocean current keeps pressing harder and harder on the brake pedal, resulting in the weakest Gulf Stream in the last 1,000 years.   The slowing Gulf Stream water currents is threatening


Baltic Sea Freight Index up on Higher Capesize Rates

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Tuesday on higher rates for capesize vessels.   The index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels






 
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