Marine Link
Tuesday, September 27, 2016

Panamax Trades Steady

January 15, 2001

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. Looking ahead, with the Lunar New Year fast approaching any major change in trend is unlikely over the coming week. This quashed any high expectations for an Atlantic Panamax rally, they said. Any positive movement is forecast to be steady - at least until after the Far East holiday. Then, activity is expected pick up with the Panamax sector ready to absorb an accelerated business pace and possibly better freight rates. Meanwhile, week-on-week earnings for Panamax tripcharter from the Far East to the Continent have risen to an average of $11,000 daily according to Clarkson Research Studies, up $1,000 on last week. Trip charter rates for Panamax transpacific round voyages have also shown strong gains, bringing average daily earnings to around $10,500. Week-on-week average Panamax earnings for the Atlantic Panamax trades have eased back slightly to around $9,250 daily for Continent to Far East trips, and also transatlantic round voyages.


Maritime Reporter Magazine Cover Sep 2016 - Maritime & Ship Security

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News