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)
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
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
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.
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.
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
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.
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
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
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
Kicking off the New Year, VesselsValue has put together a list of the top 10 ship owning nations by fleet value in 2017. Greece - $84.079 billion Japan - $80.169 billion China - $68.333 billion Singapore - $38.052 billion
National Ocean Industries Association President Randall Luthi today issued the following statement on the Bureau of Ocean Energy Management’s denial of seismic survey permits for the Atlantic OCS. “In yet another ‘black Friday’ announcement targeting the offshore oil
Brazil-China rates climb to a 15-month high; about 80 capesize, panamax ships waiting to unload around Tianjin. Freight rates for large capesize dry cargo ships on key Asian routes are likely to remain firm for at least two more weeks as bad weather conditions in China and Australia help
Just handful of ships for Brazil loading in early January; coal, South African iron ore cargoes support rates. Freight rates for large capesize dry cargo ships on key Asian routes could diverge with rates from Brazil to China nudging higher on a shortage of tonnage and those from
Diana Shipping Inc. Announces a Reduction of the Contract Price to the Shipbuilding Contracts of Two Newbuildings; Time Charter Contracts for m/v Newport News with SwissMarine and for m/v Leto and m/v Naias with Glencore Diana Shipping Inc
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Today in the containership industry a landmark deal has occurred with the youngest ever containership sent for demolition by Rickmers Marine Trust. The vessel was a seven year old panamax boxship (4250 TEU, 2009 Blt, Built China). She is valued just above scrap at USD 5.87m
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Diana Containerships Inc. said that it has reached an agreement to sell the 2006-built Panamax vessel Angeles (formerly YM Los Angeles) for demolition, with delivery due to the buyer by mid-November 2016. The vessel was sold through Diana’s separate wholly-owned subsidiary to an
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