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 Today

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

Maritime Reporter November 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Bulk Carrier Trends

Evoqua, Drew Marine Ink BWMS Deal

Evoqua Water Technologies and maritime solutions and logistics expert, Drew Marine, have announced a partnership to provide a full compliance package for ballast water management.

Need to Monitory Coal from Indonesia - UK P&I

There are various hazards associated with the trade in coal. UK P&I Club’s Loss Prevention Team highlights the risks involved, and advises on the relevant actions

Deltamarin to Designs First LNG Handysize Bulk Carriers

Deltamarin Ltd proudly announces that it has signed a contract to design the world’s first LNG handysize bulk carriers, which will point the way towards greener shipping of commodities.

Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Salvage Ship Repair 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: 0.0651 sec (15 req/sec)