Atlantic Panamax Rates Ease, Pacific Reports Losses

Monday, May 21, 2001
Panamax freight rates in the Atlantic have eased with little business to report and a similar situation in the Pacific has led to losses on the Baltic Panamax Indec, brokers said on Monday.

The Index fell 21 points on Monday to 1,504 and brokers said they expected further panamax freight rate reductions to be reflected in the Index on Tuesday.

But they said the Atlantic market was volatile and may reverse its fortunes.

"It would react to anything. If one or two fresh orders emerge, then panamax freight rates could rally," one broker said.

"Potential freight rate movement in the Atlantic panamax market is difficult to forecast. In reality it could move in either direction." Brokers said the 1999-built 72,891 dwt Ad Astra had been fixed on a retro May delivery Passero basis for a trip via the east coast of South America with redelivery Far East at $13,500 daily.

The 1998-built 73,798 dwt Royal Cosmos had been fixed for June delivery on the east coast of South America to be followed by a trip to the Far East for $12,750 daily plus a $280,000 ballast bonus, brokers said.

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

Bulk Carrier Trends

First LNG-powered EcoLiner Launched

Europe’s greenest inland vessel debuts Damen group innovations   Damen Shipyards Group launched the first LNG-powered Damen EcoLiner inland shipping tanker

Drop in Cocoa Bean Size Worries Ivorian Exporters

Dry weather in top cocoa grower Ivory Coast has caused a sharp drop in bean size and will delay the start of the April-to-September mid-crop by nearly two months,

Are Megaships Game Changers?

Bragging rights for the world’s largest container ship have changed hands four times in as many months and keep on shifting again, says a report in the Bloomberg.

 
 
Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pipelines Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction
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: 0.1008 sec (10 req/sec)