Pacific Panamax Rates Drop

Tuesday, May 15, 2001
Pacific Panamax freight rates have dropped sharply in line with weaker Asian Panamaxes, brokers said. Average rates for Pacific round voyages fell to $9,600 daily, down $169 from Monday, and down $217 from last week. Brokers said that the result will make Panamax owners reluctant to trade fronthaul business without negotiating premium rates. The declining rates could deter owners from moving ships into the Pacific, but brokers said that if Panamax owners re-entered the Atlantic, this could support Pacific rates. For example, the Panamax for the 1986-built 61,013 dwt Andromeda was for Passero delivery in May for a trip via Brazil. If re-delivery took place in the Atlantic the freight rate would be $10,500 daily, but there is an option for redelivery in the Far East at $11,500 daily, brokers said. Panamax rates remain strong in the Atlantic. Swiss commodities trading house Glencore chartered the 2001-built 75,115 dwt Thalia for mid-May Ghent delivery for a trip via North France and Iran for $16,000 daily, brokers said. The rate is higher than the $15,000 negotiated by the 1999-built 75,484 dwt Golden Nerina at the end of last week, which was fixed for a Brazil round voyage. In the voyage charter sector, the 1990-built 68,789 dwt Antwerpia was chartered to carry 56,000 tons of heavy grains from the North Pacific to Japan at a freight rate of $14.10 and is due to load at the end of May for Dreyfus, brokers said. - (Reuters)

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

Shipbuilding

Austal Delivers LCS 8 to US Navy

Austal Limited (Austal) (ASX:ASB) delivered the future USS Montgomery (LCS 8) to the U.S. Navy, during a ceremony held aboard the ship at Austal USA’s shipyard in Mobile, Alabama, USA on 23 June.

Conrad Shipyard Forms LNG Business Unit

Conrad Shipyard has formed a new business unit focused on LNG projects.   Conrad, builder of North America’s first LNG bunker barge scheduled for 2017 delivery,

Prince Charles Places Final Section of UK Aircraft Carrier

The second of the largest warships ever built for the U.K. Royal Navy, the Queen Elizabeth Class carrier HMS Prince of Wales, was given the royal seal of approval when HRH The Prince of Wales,

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 Security Naval Architecture Navigation Offshore Oil Pipelines Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction 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: 0.0659 sec (15 req/sec)