Atlantic Panamax Rates Ease, Pacific Reports Losses

Monday, May 21, 2001
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.

"It would react to anything. If one or two fresh orders emerge, then panamax freight rates could rally," one broker said.

"Potential freight rate movement in the Atlantic panamax market is difficult to forecast. In reality it could move in either direction." Brokers said the 1999-built 72,891 dwt Ad Astra had been fixed on a retro May delivery Passero basis for a trip via the east coast of South America with redelivery Far East at $13,500 daily.

The 1998-built 73,798 dwt Royal Cosmos had been fixed for June delivery on the east coast of South America to be followed by a trip to the Far East for $12,750 daily plus a $280,000 ballast bonus, brokers said.

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Bulk Carrier Trends

Commodity Giant Steps out of the Shadows

A detailed new case study scrutinizing the risk-management Swiss-based Trafigura is the latest effort to "demystify" the once-secretive commodity trading industry,

Cargill to Buy 100,000mt of Certified Ivorian Cocoa

U.S. agribusiness trader Cargill aims to purchase 100,000 metric tons of certified Ivorian cocoa this season, up slightly from 95,000 metric tons last season, West

Ice Hurts March’s Lakes Ore Shipments

Massive, thick ice formations on the Great Lakes limited iron ore shipments in March to 1.1 million tons, a decrease of 43 percent compared to a year ago, the Lake

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Ship Repair Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2930 sec (3 req/sec)