Asian Panamax Rates Up Slightly

Friday, January 05, 2001
Asian Panamax freight rates for dry bulk cargo edged up slightly this week in slow trade due to New Year holidays, Reuters reported. But the outlook for the Panamax sector remained healthy as activity would pick up momentum after the holiday period and the arrival of new ships was unlikely to affect Panamax rates before April, brokers said. The freight rates for the heavy grain Panamax benchmark route, U.S. Gulf to Japan, were quoted higher at $22.493 a ton compared with $22.208 two weeks earlier, brokers said. Panamax rates for the U.S. Pacific route were indicated at $16.543 per ton, up from $16.325 two weeks ago. Brokers said reported fixtures had been slightly quieter as Christmas and New Year holidays kept chartering businesses slow. They did not expect too much movement in the dry bulk carrier market until next week as grain trade appeared to be subdued. "The market is unlikely to get back to normal trading levels before next week as a limited number of fixtures was reported," said one Taipei-based shipping agent said. On the timecharter front, one shipbroker said rates for the U.S. Gulf to Japan route were quoted at around $11,500 with rates for the Pacific route at $12,000. However, one domestic broker said he expected freight rates to show signs of slight weakness later in the month as the coming Lunar New Year holidays would slow vessel orders. The Chinese New Year falls on January 24 and offices in the Chinese community are likely to remain shut until as late as January 28.

Maritime Today


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

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

Bulk Carrier Trends

Slower Demand for Larger Vessels Drags Baltic Index Lower

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Thursday due to diminishing demand for larger vessels.

Maersk Returns to Liverpool

Maersk has been welcomed to the Port of Liverpool with a formal reception for its feeder vessel Antwerp. The event on April 27 was attended by Seago and Maersk representatives along with customers,

Asia Dry Bulk-Capesize Rates Under Pressure

Capesize rates fall in a quiet market as holidays weigh; 20 charter-free capesize ships could add to downward trend. Freight rates for large capesize dry cargo

Finance

Offshore Casualty: Harkand Group Collapses

As the prolonged slump in energy prices continues to drag on a number of oil and gas and maritime players, word has it that Harkand Group has succumbed, according to staff reports and a report on www.

Louis Dreyfus, Amaggi Hire HSBC to Sell Terminal Stake

Agricultural commodity traders Louis Dreyfus Co B.V. and Amaggi Group have hired HSBC Holdings Plc to sell part or the entire 25 percent stake they hold in a terminal at the Brazilian port of Itaqui,

ITIC Reports on Ship Agents' Costly Transhipment Errors

International Transport Intermediaries Club (ITIC) says it continues to deal on a regular basis with claims resulting from errors by agents involving transhipment cargoes.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Offshore Oil Port Authority 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: 0.0817 sec (12 req/sec)