Panamax Trades Steady

Monday, January 15, 2001
Freight rates for Panamaxes trading the Atlantic appear to be steadying, Reuters reported. The more stable tone began at the end of last week, as renewed optimism crept into the U.S. Gulf market for nearby positions. By Monday, while the Atlantic routes on the Baltic Panamax Index were lower, losses were greatly reduced. Meanwhile, Pacific Panamax freight rates remained firm, and levels in the Far East sector continued to rise. Looking ahead, with the Lunar New Year fast approaching any major change in trend is unlikely over the coming week. This quashed any high expectations for an Atlantic Panamax rally, they said. Any positive movement is forecast to be steady - at least until after the Far East holiday. Then, activity is expected pick up with the Panamax sector ready to absorb an accelerated business pace and possibly better freight rates. Meanwhile, week-on-week earnings for Panamax tripcharter from the Far East to the Continent have risen to an average of $11,000 daily according to Clarkson Research Studies, up $1,000 on last week. Trip charter rates for Panamax transpacific round voyages have also shown strong gains, bringing average daily earnings to around $10,500. Week-on-week average Panamax earnings for the Atlantic Panamax trades have eased back slightly to around $9,250 daily for Continent to Far East trips, and also transatlantic round voyages.
Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

U.S. Drillers Add Rigs Despite Crude Collapse

U.S. energy firms added 5 oil rigs this week after putting 21 rigs into service last week, the most in over a year, despite a collapse in U.S. crude prices from recent highs in June,

DryShips Reaches Agreement with Ocean Rig

DryShips Inc. (NASDAQ: DRYS), a global provider of marine transportation services for drybulk and petroleum cargoes, and through its subsidiary, Ocean Rig UDW Inc.

MHI: Notice of Absorption-Type Split Agreements

MHI gives Notice Regarding Conclusion of Absorption-type Split Agreements Relating to Transfer of Ship Construction and Hull Block Manufacture Businesses to Two

Bulk Carrier Trends

DryShips Reaches Agreement with Ocean Rig

DryShips Inc. (NASDAQ: DRYS), a global provider of marine transportation services for drybulk and petroleum cargoes, and through its subsidiary, Ocean Rig UDW Inc.

Shanghai 6th Best Shipping Center Globally

Shanghai has moved up the rankings of the world’s top shipping centers to sixth place, surpassing Dubai thanks to Free Trade Zone regulations and the Belt and Road Initiative,

ClassNK Releases Guidelines for CNG Carriers

Classification society ClassNK has released its Guidelines for Compressed Natural Gas (CNG) Carriers.   Global economic and population growth is bringing about

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Port Authority Salvage 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: 0.2552 sec (4 req/sec)