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Panamax Rates Slip Slightly

Panamax freight rate ideas for the immediate future have slipped back slightly, shipbrokers said. Overall, Panamax freight rates in the Atlantic are seen as softer, while the Pacific market is deemed relatively steady. However, shipbrokers are eager to see some sign this week that the Panamax market will stabilize. The start of the week saw a three to five month period charter fixed at $11,000 daily for the 1990 built 68,789 dwt Antwerpia, but the latest booking, for the 1989 built 69,406 dwt Anangel Progress, shows a slightly lower negotiated level. The Anangel Progress is scheduled for delivery Continent just before mid-March and is chartered for a three to five month trading contract at $10,900 daily, said shipbrokers. In contrast, a positive fixture has been reported for the US Gulf to Japan heavy grain Panamax benchmark route. Shipbrokers reported that the 1999 built 74,002 dwt Far Eastern Queen has been booked to transport a 54,000 ton heavy grain cargo at $22.80 per ton basis no combination destination ports. Loading is due between the end of March and start of April. — (Reuters)

Atlantic Panamax Rates Soften, Fixtures Lay Low

Sentiment for the Atlantic panamax freight market may be softening while fixture rates stay on the low side, shipbrokers said on Tuesday. "It may be settled in the (Far) East but panamax freight in the Atlantic looks softer as there are still lower rates being reported," said one London-based broker. The majority of routes quoted on the overall Baltic Panamax Index rose by three points on Tuesday to 1,309 - but the transatlantic round voyage timecharter route, a key element of the Index

Spinnaker Reveals Radical Pay Changes

Maritime recruitment specialist, Spinnaker Consulting, has warned that radical pay structure changes for UK shipbrokers are resulting in brokers wanting to move out of competitive broking. As part of an in-depth salary survey covering 320 UK brokers, Spinnaker found that base salary pay structures are increasingly giving way to flexible bonus-based structures for competitive shipbrokers. As salary based pay still predominates among principals' brokers

Atlantic Rates Set To Move Higher

Panamax fixtures for end-March loading dates supported forecasts that Atlantic rates are set to move higher, shipbrokers said. But although the Capesize move to higher ground removed resistance against a prolonged Panamax uptrend, spreading foot- and-mouth disease is threatening to dampen dry bulk spring bullishness, they added. They said that reports that the disease in Britain and France may affect European grain exports was disturbing.

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

Tanker Earnings Hold Steady

Atlantic Panamax earnings were given a brief respite from the steady erosion of freight rates that has dogged the sector for the past three weeks, shipbrokers said. Brokers felt that freight rates had hit rock bottom, giving Atlantic Panamax returns one last chance to surge before the end of the year. The Baltic Exchange reported that charterer GIC paid $20.85 for an unnamed vessel on the key U.S. Gulf to Japan grain route, which was above last done levels that reached $20

Atlantic Panamax Rates Take A Step Back

Sentiment on the Atlantic panamax market turned weaker albeit with unchanged freight rates, while most Pacific rates now appeared to be flattening out, shipbrokers said on Thursday. Average Pacific prices as reported on the Baltic Panamax Index climbed only marginally, while Atlantic routes were shaved back one point to 1,435. Shipbrokers said the main panamax activity remained in the Far East with rates for backhaul charter still rising.

Panamax Operators Move Past Seasonal Freight Rate Slump

Panamax operators are poised for an improvement in freight rates after receiving indications that the seasonal slump has passed, shipbrokers said on Tuesday. Reports emerged of off-market trips done at firmer levels than of late, at some $8,000 daily for bookings on the key U.S. Gulf to Far East route, giving the market some confidence that prospects for the panamax sector were brightening, they said. This was the first sign of an upturn since the summer slowdown dented panamax trade at

Williams Joins Braemar Seascope Research Team

Photo courtesy Elaborate Communications

Global shipbroker Braemar Seascope Ltd has underlined its commitment to delivering top quality market data and analysis by welcoming a new Research Manager to its London-based research team. Joining the research department is Mark Williams, an economist and consultant. Mark is a proven communicator and strategist and brings with him a wealth of knowledge and experience of the shipping markets. He has been tasked with reorganizing and boosting the capture

Crude-Tanker Surplus Shrinks to Eight-Week Low: Survey

The surplus of supertankers competing to load 2 million-barrel shipments of Middle East crude oil shrank to an eight-week low. There are 7.5 percent more vessels for hire over the next 30 days than there are likely cargoes, according to the median estimate of six shipbrokers and owners surveyed by Bloomberg News today. That’s the lowest level since Jan. 31 and compares with a 12 percent excess a week ago. (Bloomberg).

Baltic Exchange Succumbs to Singapore as Shipping Turmoil Deepens

File photo: Nordic Bulk Carriers

The crisis in global shipping and a tax exodus by big Greek vessel owners have helped finally seal the fate of London's Baltic Exchange after at least three approaches to buy it over the last six years of its near-three centuries history.  

Consolidation, Greater focus on Risk Management and Higher Finance Costs - BIMCO


BIMCO has today published the next in its series of reports looking at the “road to recovery” for dry bulk shipping beyond the current market difficulties. The foundation for the new report follows the conclusion of BIMCO’s previous analysis – that due to the severity of

Bimco Publishes Dry Bulk Crisis Report

Philippe Louis-Dreyfus. Photo: BIMCO

 BIMCO has published the next in its series of reports looking at the “road to recovery” for dry bulk shipping beyond the current market difficulties.    The foundation for the new report follows the conclusion of BIMCO’s previous analysis – that due to the

Asia Tankers-VLCC Steady After Bumping Four-Month High

File photo: Euronav

Power struggle breaks out between between owners and charterers; West Africa cargoes hit a monthly record. Freight rates for very large crude carriers (VLCCs), which surged to a four-month high on Thursday, to hold steady as ship owners await the release of November cargoes

Asia Dry Bulk-Capesize Rates Under Pressure

A so-called ValeMax bulk carrier at the berth (File image: Vale)

Capesize rates fall in a quiet market as holidays weigh; 20 charter-free capesize ships could add to downward trend. Freight rates for large capesize dry cargo ships on key Asian routes are set to drift lower next week unless there is an uptick in chartering activity from major miners

Asia Dry Bulk-Capesize Rates May Dip

Rates from Western Australia to China fall from six-month high. Freight rates for large capesize dry cargo ships on key Asian routes could slide next week as charterers rein in their activity following a flurry of fixtures which pushed rates from Western Australia to China to a six-month high

ABB Saves 700,000 tons Fuel for Marine Vessels

ABB Azipod fuel savings image ABB

ABB’s environmental friendly Azipod propulsion system brings greater fuel efficiency to diverse shipping segments ABB today announced the total fuel savings of the entire installed Azipod fleet since being launched is estimated to be more than 700,000 tons

ITIC Launches Cyber Liability Insurance Extension

Alistair Mactavish (Photo: ITIC)

International Transport Intermediaries Club (ITIC) has launched a cyber liability extension to ITIC policies to protect its existing professional indemnity members against the growing threat posed by hackers.   ITIC has always provided cover for damage arising from the loss of or damage to

Shipbrokers Challenge Baltic Exchange

Image: Baltic Exchange Ltd

 Several key dry bulk shipbrokers have formed the Competitive Ship Brokers Limited (CSBL) to challenge the Baltic Exchange over their role in the market as it tries to sell itself to the Singaporean financial giant SGX, reports the Telegraph.  

Bimco Opens Office In Singapore

Image: BIMCO

 BIMCO has opened a new regional office in Singapore in order to increase services to its members in the Southeast Asia region and boost collaborations with regional maritime associations.    BIMCO’s new Singapore contact will be General Manager, Maite Bolivar Klarup

Rotterdam Implements Paperless Container Transfers

(Photo: Port of Rotterdam Authority)

In the near future, a physical Customs document will no longer be required to transfer containers from one Maasvlakte terminal to the other within the Port of Rotterdam.   Participating terminals APMT, ECT and RWG have made agreements with the Dutch Tax and Customs Administration for a

Asia Tankers-VLCC Rates to Climb Slowly

File image: a so-called SuezMax oil tanker (Suez Canal Authority)

Around 47 MidEast charters fixed for July loading so far; older tonnage and new vessels a drag on freight rates. Freight rates for very large crude carriers (VLCCs) are set to nudge higher next week after moving above nine-month lows on increased charters this week, ship brokers said on Friday

Asia Tankers-VLCC Rates Steady as Suezmax Fixtures Weigh

Charterers splitting VLCC cargoes into smaller Suezmax tankers; rates to remain around $24,000 per day, below break-even levels. Freight rates for very large crude carriers (VLCCs) on main routes to Asia are set to hold around current levels next week

Has the Link between OPEC Production and VLCC Rates broken?

Graph: Poten and Partners

 For the tanker market, in particular for VLCCs, increasing Middle East OPEC production is typically a good sign.    Poten and Partners in its Shipbrokers Reports says that does not appear to be the case at this particular moment

VLCC Rates Under Pressure in Oversupplied Market

A EuroNav VLCC Underway (file image, Credit EuroNav)

Owners face difficulty raising rates due to discounted ships. Freight rates for very large crude carriers (VLCCs) are likely to remain under pressure next week as charterers drip-feed cargo in the face of surplus tonnage, shipbrokers said.

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