Marine link
 

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


Baltic Index Rises on Higher Demand Across Vessels

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Wednesday on stronger demand across all types of vessels. The overall index, which factors in rates for capesize, panamax, supramax, and handysize shipping vessels, was up five points


Asia Dry Bulk-Capesize Rates Could Rise in Short Term

File Image: a so-called ValeMax bulk carrier, commonly used in th Brazil-Asian trades (credit: Vale)

Shipowners seeking $10 per tonne from Brazil-China; dry cargo demand to remain subdued this year. Freight rates for large capesize dry cargo ships on key Asian routes may firm up next week on increased chartering activity, tighter tonnage supply and possible port disruption caused by bad


Strong Demand Across Vessel Segments Pushes Up Baltic Index

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Thursday as demand strengthened across all vessel segments.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Baltic Index up for Third Straight Session

file image (FedNav)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday, for a third straight session, on rising demand across all vessel segments. The overall index, which factors in rates for capesize, panamax


Baltic Index Down on Weaker Panamax Demand

File Image: a smaller size bulk carrier (credit: FedNav)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell slightly on Monday on weaker demand for panamax vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down three points


Baltic Index Fall on Weaker Vessel Demand

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell marginally on Tuesday hurt by weak demand across all vessel segments.    The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Baltic Index Rises on Stronger Capesize Demand

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Wednesday on stronger demand for capesize vessels.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up four points


Baltic Index Rises on Better Capesize, Panamax Demand

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, inched higher on Thursday due to demand for capesize and panamax vessels.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Baltic Index Dips on Weak Demand for Smaller Vessels

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Friday due to weak demand for smaller vessels. The overall index - which factors in rates for capesize, panamax, supramax and handysize shipping vessels - was down one point, or 0


Diana Shipping Contract for Thetis

M/v Thetis. Photo: Diana Shipping Inc

 Diana Shipping Inc. through a separate wholly-owned subsidiary, has entered into a time charter contract with Transgrain Shipping B.V., Rotterdam, for one of its Panamax dry bulk vessels, the m/v Thetis.    The gross charter rate is US$5,150 per day


Baltic Index Down on Weaker Demand

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell marginally on Monday on weaker demand for smaller vessels and panamaxes, partially offset by higher demand for capesizes. The overall index, which factors in rates for capesize, panamax


Baltic Index Down as Small Vessel Demand Weakens

File Image: a smaller, handy sized bulk vessel (FedNav)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell Tuesday on weaker demand for smaller vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down one point, or 0


Baltic Index Down on Weak Capesize Demand

 The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Friday due to lower rates for capesize vessels.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 11 points


Baltic Index Down as Capesize Demand Disappoints

File image: a bulk vessel alongside during cargo operations (FedNav)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, continued its fall Monday on weaker demand for capesize vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 5 points, or 0


Baltic Index Down on Falling Capesize Demand

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell Tuesday on lower demand for capesize vessels.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 2 points, or 0






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright