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)

Bulk Carrier Trends

Fednav's New Bulker Features High-tech BWT System

Fednav Limited,  an  international bulk shipowner in Canada, has welcomed to the Port of Indiana – Burns Harbor, the Federal Caribou, one of seven new oceangoing

Baltic Exchange Board Backs SGX Bid

The Baltic Exchange board has unanimously backed a takeover bid from Singapore Exchange Ltd , a deal that will give SGX access to a trading platform for the multi-billion

NordLB to Shed Shipping Loans to KKR

German state-owned lender NordLB and KKR Credit said they had reached an agreement by which KKR Credit will acquire a $1.5 billion portfolio of shipping loans from

 
 
Maritime Security Maritime Standards Naval Architecture Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction 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: 0.0821 sec (12 req/sec)