Panamax Rates Hold Firm

Wednesday, June 21, 2000
Asia's Panamax rates for dry bulk cargo are expected to remain firm this week on strong vessel demand for grain and mineral exports and support from a rebound in Capesize, traders said. "Panamax freight rates are holding firm this week," said a shipping trader in Seoul. "The rates are a bit firmer than we expected ahead of the slow summer season." Active grain and oilseed exports from South America were providing support to the Panamax market, along with steady exports of coking coal from China, Indonesia and Australia, he said. The Panamax rates were also supported by a rebound in Capesize rates since late last week, he added. Spot freight rates for U.S. Gulf/Japan for Panamax cargoes were unchanged at about $23.25-$23.50 per ton from last week, a shipping broker said. The timecharter rate for hiring modern Panamax vessels to transport cargo from the Atlantic to the Far East stood at around $11,500 a day, plus a $250,000 ballast bonus, barely changed from last week, he said. U.S. Gulf/Japan freight rates for Panamax shipments for late July/early August remained around $22.50-$22.75 a ton since a week ago, he said. Freight rates to South Korea and Taiwan are expected to be about $0.50 a ton less than spot and forward rates on the U.S. Gulf/Japan route, traders said. They said spot timecharter rates for the Pacific round for modern Panamaxes were at $12,000-$12,250 per day, against $12,000 per day a week ago.
Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Bulk Carrier Trends

COSCO Delivers Bulker

The Board of Directors of COSCO Corporation (Singapore) Limited announced that COSCO (Dalian) Shipyard Co., Ltd a subsidiary of the Company's 51% owned COSCO Shipyard Group Co.

NewLead Fixes Newcomer, "Newlead Castellano"

NewLead Holdings Ltd. announced today that it has entered into a time charter contract for the recently delivered Handysize vessel, the "Newlead Castellano".

Great Lakes Coal up More Than 12% in September

Lake Carriers’ Association reported that coal shipments on the Great Lakes totaled 3 million tons in September, an increase of more than 12 percent compared to a year ago.

 
 
Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pod Propulsion Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1159 sec (9 req/sec)