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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Bulk Carrier Trends

Berthing Policy for Dry Bulk Cargo for Indian Ports Unveiled

Ministry of Shipping has formulated a new Berthing Policy for Dry Bulk Cargo for all Major Ports which will come into effect from 20th August, 2016. The objective

RS Rules Conform to the IMO Goal-based Standards

The rules of the Russian Maritime Register of Shipping are in conformity to the International Maritime Organization (IMO)goal-based standards (GBS), the IMO’s Maritime

Baltic Index up for Third Straight Session

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.

 
 
Maritime Careers / Shipboard Positions Pipelines Pod Propulsion Port Authority Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
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: 0.0597 sec (17 req/sec)