Asian Panamax Rates Edge Higher

Friday, January 19, 2001
Asian Panamax freight rates for dry bulk cargo in the Pacific market edged higher this week on the back of pre-Lunar New Year holiday grain purchases and persistent coal shipments, shipping agents said. But brokers said they expected freight rates to show signs of weakness next week as several Asian countries would be on holiday. "Chartering activity will slow down next week as many countries in the Asian region close for the Chinese New Year," said one domestic broker. The Chinese New Year falls on January 24 this year. Offices in the Chinese community are likely to remain closed for the whole week ending on January 28. Spot freight rates for Panamax-class cargoes for the U.S. Pacific route were quoted at $17.213 per ton, up from $16.881 one week earlier. Panamax rates for the U.S. Gulf to Japan were indicated at $21.944 a ton, down from $22.081 last week, brokers said. The firmness in Pacific rates also reflected continued vessel demand for coal shipments from Australia, China and Indonesia, and active Chinese buying of American soybeans, the shipping agent said. Timecharter rates for the U.S. Gulf to Japan were quoted at $10,500-$11,000 a day against $10,000 a week ago, while rates for the Pacific round stood steady at $12,500-$13,000. - (Reuters)
Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Bulk Carrier Trends

CMA CGM Strengthens its Presence in Lebanon

The CMA CGM Group upgrades its Lebanese service by adding a call in Beirut on its EPIC line, joining North Europe to Indian sub-continent, and on its MEX line, joining the Mediterranean to Asia.

Diana Shipping Nets 2Q Loss

Diana Shipping Inc. today reported a net loss of $14.1 million and net loss attributed to common stockholders of $15.5 million for the second quarter of 2015, compared to net loss of $5.

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.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Ship Repair Ship Simulators Sonar
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: 0.1234 sec (8 req/sec)