Added Panamax Cargo Inquiries Have Little Effect On Rates

Wednesday, December 06, 2000
While panamax cargo Inquiries from the U.S. Gulf have increased, the additional business was not expected to have much effect on freight rates, brokers said on Tuesday.

Fixtures for the benchmark U.S. Gulf to Japan heavy grain route were noted in the $22 per ton region last week, but shipbrokers now suggest that a rate within $21 per ton is more likely. Evidence for this is seen in the latest U.S. Gulf to Taiwan fixture, for which charterers were reported to have paid $21 per ton of heavy grain on a fixture that specified loading between December 28 and January 8 for a 56,000-ton cargo. As the U.S. Gulf to Japan market tends to follow a $.50 premium basis shipments destined for Taiwan, a $21.50 per ton fixture for heavy grain shipments heading for Japan is becoming an increasing possibility, brokers said.

Moreover, the latest Baltic Panamax Index saw the relevant route 2 figure ease back $.30 to $21.97 per ton on Tuesday afternoon.

The reported charter of the 1995-built 75,484 dwt Golden Nerina illustrated the weaker Atlantic panamax market.

Brokers reported that Transfield has chartered the ship for a 60,000 ton heavy grain cargo. The grain is scheduled to load in the Mississippi between December 18 and 21 and is destined for Hamburg at a freight rate of $12.25 per ton.

While short-term forecasts remain depressed for the Atlantic Panamax grain trades, however, Pacific rates appeared to be finely balanced, brokers said.

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Oil Companies Bidding for Blocks in Colombia

Oil companies were bidding on Wednesday for 95 oil areas Colombia is offering for exploration and production in an effort to raise output from around 1 million

Ocean Mineral Singapore Set for Seabed Exploration

Ocean Mineral Singapore Pte. Ltd. (OMS) has received approval from the International Seabed Authority (ISA) on its application for its first seabed exploration licence.

DNV GL Publishes Regulatory Roadmap for Floaters in the US

DNV GL announced it has mapped out what is necessary to be in compliance with U.S. Coast Guard (USCG) requirements to operate FOIs, FSOs and FPSOs in U.S. waters.

Finance

Trading Dutch Well Placed to Pursue Russia Sanctions

The seafaring Netherlands prides itself on being a trading nation, reluctant to let politics get in the way of a good deal. But since the downing, allegedly

Navios Announces VLCC Delivery

Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, has announced that the Nave Electron, a 2002-built VLCC of 305,178 dwt, was delivered

Scorpio Tankers: Latest Financial & Ship Delivery News

Scorpio Tankers Inc. says it has updated its stock buyback program; lists its latest new vessel deliveries, and gives the release date of its second quarter 2014 earnings report.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Port Authority Ship Repair Shipbuilding / Vessel Construction Sonar
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: 0.1974 sec (5 req/sec)