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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


Baltic Index Inches up on Higher Capesize Demand

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Monday, supported by higher demand for capesize vessels.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Stronger Capesize Demand Boosts Baltic Index

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Tuesday, primarily helped by higher demand for capesize vessels.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Baltic Index Up on Firmer Demand

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Wednesday, boosted by stronger demand for capesizes and smaller shipping vessels.   The overall index, which factors in rates for capesize, panamax


Baltic Index Dips on Weaker Rates for Bigger Vessels

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Thursday, hurt by lower rates for capesize and panamax vessels.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Hapag-Lloyd Eyes Impact of New Grand Canal

One of the more than 34,000 employees who have been working on the huge project since 2007 (Photo courtesy of the Panama Canal Authority)

The Panama Canal has linked the Pacific with the Atlantic for more than 100 years. It will soon be possible for significantly larger ships to pass through its locks. What will the expansion mean for Hapag-Lloyd?   They’re still working in Panama


Canada Commits $51.9 Mln to Ferry Services

MV Fundy Rose (Photo: Bay Ferries Ltd.)

The Canadian Government has committed $51.9 million to support Atlantic Canada ferry services, announced Canada’s Transport Minister Marc Garneau.   The funding, announced as part of Budget 2016, will support operations, maintain and repair ferry assets and dispose of the MV Princess


Baltic Index Reaches Four Month High

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose to its highest level in four months on Friday, backed by an upswing in demand across vessel segments headed by capesizes.   The overall index, which factors in rates for capesize


Baltic Index Up for Twelfth Straight Session

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday for the twelfth consecutive session, supported primarily by stronger demand for capesize vessels.   The overall index, which factors in rates for capesize, panamax


Firm Vessel Rates Boost Baltic Index

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Wednesday on higer rates for panamaxe and smaller vessel categories.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Stronger Capesize Rates Perks Up Baltic Index

The Baltic Exchange's main sea freight index tracking rates for ships carrying dry bulk commodities, rose on Friday, supported primarily on improved demand for capesize vessels.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Containership Scrapping Gathers Momentum

Graph: Drewry Maritime Research

 After a slow start scrapping of containerships gathered momentum towards the end of 2015 and has continued into 2016, says Drewry Maritime Research.   A record intake of newbuild containershps (1.7 million teu) in 2015 coincided with an unusually low scrapping total


Asia Dry Bulk-Capesize Market Direction Uncertain

A so-called ValeMax bulk carrier. These vessels were built primarily to carry iron ore from Brazil to the far east. (image: Vale)

Owners resisting charterers' attempts to push market lower; rates slip from 5-1/2-month highs. Freight rates for large capesize dry cargo ships on key Asian routes face an uncertain outlook next week with some owners resisting charterers' attempts to push hire rates down even as freight rates


Baltic Index Up Slightly as Smaller Vessels Support

The Baltic Exchange's main sea freight index tracking rates for ships carrying dry bulk commodities, rose marginally on Thursday as steady demand for smaller vessels offset weaker rates across capesize and panamax vessels.   The overall index, which factors in rates for capesize, panamax


IMTRA Outfits US’ First Wind Farm Vessel

Atlantic Pioneer (Photo: Blount Boats)

IMTRA, a manufacturer and importer of commercial marine products, has delivered equipment to the first U.S.-flagged offshore wind farm crew transfer vessel (CTV), Atlantic Pioneer.    IMTRA’s scope of supply includes the Colorlight CL20 high-output searchlight


Atlantic Pioneer Gets to Work at Block Island

Atlantic Pioneer (Photo: Atlantic Wind Transfer)

The first US-built and operated offshore wind farm crew transfer vessel will be named at an official christening ceremony in Quonset Point, Rhode Island. Following the Christening the ‘Atlantic Pioneer’, owned and operated by Atlantic Wind Transfers






 
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