Brazilian Panamax Holds Steady

Friday, April 20, 2001
Brazilian panamax liftings were supporting an already firm Atlantic market, brokers said on Thursday.

Earnings for modern Atlantic tonnage had hit the $13,000 a day barrier and were expected to climb further in Friday's trading.

Cargill took a 1994-built panamax for an East Coast South America round voyage, redelivery Skaw to Passero range, on a prompt booking at $13,000 a day.

"The Atlantic (market) is fairly steady, it's not going through the roof, but I think it's fair to say that it is buoyant," said one broker.

A dearth of prompt quality tonnage would support further gains in the Atlantic, he added. Brokers were less confident about the outlook for the Pacific panamax trades, with one commenting that the Pacific was effectively dragging down the positive Atlantic trade - a sentiment that was mirrored in the Baltic Exchange panamax index, which barely moved on Thursday.

"It's not a complete disaster, it's just that the strong Atlantic trades are emphasizing the weaker Pacific panamaxes," a broker said.

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

Bulk Carrier Trends

Ferus Smit Building LNG Powered Cement Carrier

The first unique LNG powered ship that Ferus Smit has on order for Erik Thun A.B. will be built and equipped as a dedicated cement carrier. The ship will be delivered to the joint venture JT cement,

Scorpio Bulkers Upsizes Public Offering

Scorpio Bulkers Inc. announced today that it has further upsized and priced its previously announced offering of senior unsecured notes due 2019 in a registered public offering.

Sharp Slowdown in China Industrial Activity

The slowdown in Chinese industrial production growth ads to the existing concerns that China is going through challenging times, as Beijing aims for a soft landing and a transition of the economy,

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Ship Electronics 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: 0.1075 sec (9 req/sec)