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Panamax Rates

Panamax Rates Likely To Ease

Asian Panamax rates for dry bulk cargo are likely to ease further this week on soft demand for mineral and grain shipment, with many spot vessels available for hire in the market. "There have been few fresh spot inquiries by charterers," said a shipping broker. "In addition to this, the Panamax market has been under pressure from an oversupply of spot ships." Panamax rates for freights from the U.S. Gulf to Japan were indicated at $21.50-$22.00 a ton for March shipment, against $23.00 from a week ago, he said. The broker also put indication rates for April shipment around $22.50-$23.00 on hopes of a rise in vessel demand, as the South American grain export season starts in the same month. But no fixtures have been reported. In the market, one Japanese trading house was said to have fixed a Panamax vessel last week at $21.25 a ton to carry about 54,000 tons of heavy grain from the U.S. Gulf to Japan for February shipment, another broker said. Freight rates to South Korea and Taiwan were about $1.00 a ton less than those for U.S. Gulf/Japan, reflecting higher port charges in Japan, brokers said. The Panamax rates in the Asian market were also taking their cue from a soft tone in the Atlantic Panamax market, along with weakening freight rates for Capesize and Handysize, said a broker in Tokyo. Timecharter rates for the U.S. Gulf to Japan were at $10,750 a day plus $200,000 ballast bonus, against $11,000 a day plus $230,000 ballast bonus a week earlier, the Tokyo broker said


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


Oversupply, Limited Cargoes Contribute To Weakening Panamax Rates

Panamax rates continued to weaken due to oversupply and limited cargoes on Monday, but owners were hopeful that the market was finding a floor, brokers said. The physical market remained in decline, but the forward freight agreement market was holding steady. Buying interest on the Biffex futures market on Friday had suggested a potential bounce this week, brokers said. Panamaxes struggled to find employment and charterers were still using their advantage to push rates lower.


Increased Panamax Rates Boost Market Sentiment

Higher panamax freight rates have boosted sentiment in the market amid hopes for further rates increases during the week, shipbrokers said on Monday. They gave as prime example the latest U.S. Gulf to Japan fixture at a rate of $23.25 per ton of heavy grain for mid-July loading dates, this compared with the present Baltic Panamax Index showing an average $22.86 per ton. Firmer fixtures had been also reported for both the Pacific and the Atlantic, brokers said.


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


Baltic Sea Freight Index down on Weak Capesize Rates

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, dropped for a 14th straight session on Friday, driven mainly by falling capesize rates. The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell 27 points, or 2.62 percent, to 1,002. The Baltic's capesize index fell 76 points, or 4.08 percent, to 1,789 points.


Oversupply Leads Pacific Panamax Rates Tumble

Panamax owners in the Atlantic have fought off charterers' attempts to push freight rates lower, but panamaxes in the Pacific are weaker due to oversupply, brokers said on Wednesday. "The Atlantic looks to have reached a level, but the Pacific has some way to go yet," one said. The Baltic Panamax Index has eased this week, standing 13 points lower at 922 on Wednesday. Brokers said the increase in the panamax fleet this year was behind the decline in freight rates.


Atlantic Panamax Rates Ease, Pacific Reports Losses

Panamax freight rates in the Atlantic have eased with little business to report and a similar situation in the Pacific has led to losses on the Baltic Panamax Indec, brokers said on Monday. The Index fell 21 points on Monday to 1,504 and brokers said they expected further panamax freight rate reductions to be reflected in the Index on Tuesday. But they said the Atlantic market was volatile and may reverse its fortunes.


Lackluster U.S. Gulf to Japan Charter Is to Blame for Panamax Rates

A lower than expected U.S. Gulf to Japan voyage charter has set the tone for the panamax sector, brokers said on Monday. The 1982-built, 60,052 dwt Marienvoy was reported fixed at $21.75 per ton of heavy grains basis no combination destination ports. Loading is scheduled for the end of March to the beginning of April. While the rate no doubt also factors in the age of the panamax, brokers pointed out that the present market level for modern panamaxes of 15 years or younger for this route


Panamax Rates Expected to Improve

Panamax freight rates are expected to improve this week, although the Baltic Panamax Index rose just one point to 1,626 on March 12. Shipbrokers said Panamax freight rate movement for voyage charters has been tentatively positive recently, and while some timecharter rates have been marginally negative compared with previously done levels, the Panamax sector seems to be stabilizing ahead of an upward move. The only cause for concern was the decline in the Capesize sector


Diana Fixes Artemis to China Shipping

Artemis. Photo: Diana Shipping

 Diana Shipping Inc, a global provider of shipping transportation services through its ownership of dry bulk vessels, has chartered out one of its panamax bulkers - Artemis (76,942 dwt, built 2006)  - to China Shipping Bulk Carrier.    


Market Weighs on Asia Dry Bulk-Capesize Rates

Tonnage list grows in Pacific, Atlantic oceans; lack of coal cargoes weigh on freight rates. Freight rates for capesize bulk carriers are set to slide further next week, after falling to their lowest level in five weeks, due to a mounting supply of tonnage and uncertain cargo demand


Diana Shipping Extends Charter for Crystalia With Glencore

Crystalia. Photo by Diana Shipping Inc

 Diana Shipping Inc., has, through a separate wholly-owned subsidiary, agreed to extend the present time charter contract with Glencore Grain B.V., Rotterdam, for one of its Ice Class Panamax dry bulk vessels, the MV Crystalia.  


Diana Shipping Fixes Panamax

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


Asia Dry Bulk-Capesize Rates Mixed on Uncertainty

Capesize rates slide after hitting 5-month high. Rates for capesize bulk carriers eased this week after hitting their highest since December, and could come under pressure next week if charterers hold back cargoes, ship brokers said. "So far, I can't see too much cargo in the market


China Shipping Charters Diana Panamax

Calipso. Photo by Diana Shipping

 Diana Shipping has entered into a time charter contract with Hong Kong - based China Shipping Bulk Carrier, for one of its Panamax dry bulk vessels, the m/v Calipso.    The "Calipso" is a 73,691 dwt Panamax dry bulk vessel built in 2005


Diana Takes a Hit on Charter Extension

mv Leto Photo Marcelo Lopes

  Diana Shipping Inc. specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Cargill International S.A., Geneva, for one of its Panamax dry bulk vessels, the m/v Leto


The Hour of the Wolf for Panamaxes - Platts Report

Shipowners operating in the trans-Atlantic dry bulk

Shipowners operating in the trans-Atlantic dry bulk market, where prices have been plumbing two-year lows on the back of acute vessel oversupply and shifting patterns in minerals demand, could be facing brighter days, according to the latest special report released by Platts


Diana Agrees Charter for M/V Coronis

mv Coronis Photo Rene Bergh

  Diana Shipping Inc. announced today that through a separate wholly-owned subsidiary, it entered into a time charter contract with Sandgate Maritime Ltd for one of its Panamax dry bulk vessels, the m/v Coronis. The gross charter rate is US$6,500 per day


Diana Finds Work for Panamax Duo

Dianas Panamax

  Diana Shipping Inc., today informed that through a separate wholly-owned subsidiary, it entered into a time charter contract with Cargill International S.A., Geneva, for one of its Panamax dry bulk vessels, the m/v Naias. The gross charter rate is US$6,800 per day minus a 4


Asia Dry Bulk-Capesize Rates Steady

Brazil-China capesize rates hit seven-month high; Pacific capesize market dragged by buoyant tonnage supply. Freight rates for capesize bulk carriers are likely to hold steady next week although a rush of cargo in the Atlantic would again provide the trigger for rates to move higher


Asia Dry Bulk-Capesize Rates Could Soften

Capesize market "overheated" as rates near eight-month highs; optimism for a busier fourth quarter looms. Freight rates for capesize bulk carriers are likely to take a breather and drift lower after climbing to their highest level in nearly eight months this week following bad weather


Diana to Acquire Two Post-Panamax Containerships

Diana Containerships Inc. announced that yesterday it signed, through two separate wholly-owned subsidiaries, two Memoranda of Agreement to purchase from an unaffiliated third party two Post-Panamax container vessels, the m/v Rotterdam and the m/v Hamburg.


Diana Charters Containership to Maersk

m/v Great (Photo: Diana Containerships)

Container shipping company Diana Containerships Inc. announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with Maersk Line A/S for one of its Post-Panamax container vessels, the m/v Great.   


Asia Dry Bulk-Capesize Rates Steady at 8-month High

Freight rates climb after BHP-led charter flurry; tight tonnage supply bolsters capesize freight rates. Freight rates for capesize bulk carriers could hold around current levels after reaching their highest in more than eight months this week following a surge of fixtures by Australian miners






 
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