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

Bulk Carrier Trends

Goldenport Bleeds in Red

Goldenport Holdings Inc reported a net loss of USD14.7 million in the first six months of 2015, significantly wider than the USD1.4 million net loss a year earlier

Strong Returns for Sovcomflot

Russia’s biggest shipping company PAO Sovcomflot (SCF Group) surpassed its own expectations and went forward on both revenue and net profit in the first six months.

CSDC Profts Soar

The bulker and tanker unit of state conglomerate China Shipping Group, China Shipping Development Co (CSDC) has delivered a first half performance which saw its profit spike,

Finance

Bunkers International Files for Bankruptcy

U.S. based bunkering services firm Bunkers International Corp. announced August 28 that it has filed for reorganization under Chapter 11 of the Bankruptcy Code.

Asia-N.Europe Box Rates Jump 26 pct

Shipping freight rates for transporting containers from ports in Asia to Northern Europe jumped by 26 percent to $591 per 20-foot container (TEU) in the week ended on Friday,

Greek Coastguard Rescues 2,500 over Three Days

Greece's coastguard has rescued about 2,500 migrants and refugees off the country's eastern islands over the past three days, authorities said on Monday, as the

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Pod Propulsion Port Authority Ship Electronics Ship Repair 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: 0.1901 sec (5 req/sec)