Atlantic Panamax Rates Soften, Fixtures Lay Low

Tuesday, June 12, 2001
Sentiment for the Atlantic panamax freight market may be softening while fixture rates stay on the low side, shipbrokers said on Tuesday.

"It may be settled in the (Far) East but panamax freight in the Atlantic looks softer as there are still lower rates being reported," said one London-based broker.

The majority of routes quoted on the overall Baltic Panamax Index rose by three points on Tuesday to 1,309 - but the transatlantic round voyage timecharter route, a key element of the Index, eased by $25 to a daily average of $10,798. Regarding fixtures, shipbrokers reported a buoyant prompt rate of $8,250 daily for a backhaul charter for the 1997-built, 73,427 dwt panamax Fearless, fixed for prompt Kinoura delivery followed by a trip via the north Pacific with Med redelivery. A similar route on the Baltic Panamax Index shows the average market level at $7,460 daily.

Shipbrokers said period fixtures again proved popular in the eastern markets, as the 2001-built 74,000 dwt Cos Joy was chartered by South Korean charterers for delivery Shanghai in early July for four to six months trading at $9,500 daily. Another reported chartering was the 1997-built 73,192 dwt Great Jade for late June Yantai delivery to be followed by three to five months trading at $9,450 daily.

Panamax timecharter business for South America included the 1993-built 65,671 dwt Irene set for prompt Le Havre delivery and chartered by Louis Dreyfus. The ship is bound for a trip via east coast South America, with redelivery in the Singapore-Japan range at a rate around $10,750 daily.

Shipbrokers said the 1989-built 64,282 dwt Corato was fixed on a retro June 9 Skaw delivery basis, also for a trip via east coast South America with redelivery in the Singapore-Japan range but at $10,250 daily by the same charterer.

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Brent Holds Above $97, Eyes Worst Quarter Since 2012

Brent crude futures hovered above $97 a barrel on Tuesday, aided by firm U.S. and Chinese data, but the oil benchmark was on track for its deepest quarterly drop

MAN Propulsion Packages for New Icelandic Trawlers

MAN Diesel and Turbo inform that Icelandic owners, HB Grandi, Vinnslustodin hf. and Hradfrystihusid Gunnvör, have ordered newbuildings based on two different ship

IRPT, Community College MoA on Maritime Training

The Inland Rivers, Ports and Terminals (IRPT) Trade Association announced today that it has entered into a memorandum of understanding with Lewis & Clark Community

Bulk Carrier Trends

New Portal Crane for Schwedenkai Intermodal Handling

Port of Kiel invests in hinterland rail links. A new portal crane has arrived at Kiel’s Schwedenkai Intermodal Terminal, meaning that trains involved in rail-ship

US River Infrastructure Near breaking Point

With a record U.S. harvest just coming in, the river transportation system that is at the heart of the nation's farm economy is overstrained by rising demand for shipping capacity,

Vale to Lease 10 China Merchant Bulkers

Brazil's iron ore miner Vale SA said on Friday it secured a deal with China Merchants Group to lease for 25 years as many as 10 very large ore carriers, which will be built by China Merchants,

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Offshore Oil Pod Propulsion Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar 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: 0.1164 sec (9 req/sec)