Far East Holidays Cripple Shipbrokers' Forecasts

Wednesday, April 18, 2001
The panamax market is clouded by the prospect of Far Eastern holidays in less than two weeks, shipbrokers said on Wednesday.

Brokers are unwilling to give forecasts beyond April 29 - the start of Golden Week. "We made it through Easter unscathed, but Golden Week is a different matter. Every year we're shocked at the slack trade, it's like we forget how important the Far Eastern market is," a broker said.

Inquiry for Pacific basin panamaxes remained slow with modern tonnage hoping for $11,000 per day for North Pacific - Australia round voyages. Special positions, such as West Coast India, could get a premium for short trips, brokers said, citing the booking for the 1989 built Nemea. The Piraeus-based Goulandris Bros-controlled ship won $14,500 per day from Japanese charterers.

A 20001 built panamax was booked at $11,400 per day by Chinese charterers for a North Pacific round voyage, providing hope for further gains this week.

Norwegian brokers felt that the overall undertone for panamaxes remained firm short-term, even though Wednesday's freight activity was slower.

Maritime Today


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

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

Bulk Carrier Trends

Baltic Index Falls on Weaker Demand

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Tuesday as demand for larger vessel segments declined.

Pioneer Marine Cancels Drybulk Newbuildings

Pioneer Marine Inc., a shipowner and global drybulk handysize transportation service provider, has terminated the last two newbuilding contracts for Green Dolphin 38,

Baltic Index Declines on Weaker Demand for Larger Vessels

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Monday on sluggish demand for panamax vessels, partially

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Port Authority Salvage 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: 0.1354 sec (7 req/sec)