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

Bulk Carrier Trends

Baltic Sea Freight Index Falls to Lowest Level Since 1986

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, spiralled downwards to its lowest level in nearly three

Pacifica Rolls Out New Container Vessel

Pacifica Shipping, New Zealand's coastal shipping company, is launching a new container vessel from March replacing a smaller vessel whose charter has ended, reports The Stuff.

Shipping Pollution Will Skyrocket -Study

International freight volumes will grow fourfold by 2050 while the average length of haul will increase by 12 percent over that time, trends that will cause a spike

Finance

Matson Announces Quarterly Dividend

Matson, Inc. declared a first quarter dividend of $0.17 per common share, the company’s board of directors announced. The dividend will be paid on March 5, 2015

Kirby Reports Record Earnings

Kirby Corporation announced record net earnings of $68.1 million, or $1.19 per share, for the fourth quarter 2014 (ended December 31). The results bested 2013’s fourth quarter figures of $64.

Baltic Sea Freight Index Falls to Lowest Level Since 1986

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, spiralled downwards to its lowest level in nearly three

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Ship Simulators 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: 0.1729 sec (6 req/sec)