Panamax Freights Rise, Pacific Rates Hold

Tuesday, June 19, 2001
Panamax freight orders picked up for Atlantic tonnage on Tuesday while Pacific rates continued to hold strong, shipbrokers said.

In the short-period market, the 75,000 dwt newbuilding APJ Jit was chartered for June 20-25 South Korea delivery, booked for 3-5 months trading at a rate of $9,750 daily, they said. Brokers reported the chartering of North Friendship, a 1999-built 74,732 dwt panamax, was chartered for end-June U.S. Gulf delivery. The timecharter included a trip to Indonesia at a rate of $11,250 daily plus a $225,000 ballast bonus, they said.

Hanjin was said to have chartered the 1989-built 68,779 dwt Achilles for early July U.S. Gulf delivery and the panamax is set for a trip to the Far East at a rate of $11,100 daily plus a $210,000 ballast bonus.

Transfield was reported to be involved in a fixture for the 66,908 dwt Panayia Moutsaina panamax, built in 1984, which is due for prompt Gibraltar delivery followed by a trip via east coast South America and then redelivery to the Continent at a daily rate of $10,250.

Shipbrokers said ships under 15 years of age and with tonnage of 70,000 dwt currently attract an average of $11,100 daily for an Atlantic round voyage.

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