Bulk Carrier Trends: Panamax Activity On The Rise

Friday, May 12, 2000
The dry cargo freight market was enlivened by a higher degree of Panamax activity in most areas, while Capesize conditions remained subdued with little fresh business quoted and few fixtures reported, brokers said.

On May 9, the Baltic Dry Index gained 2 points from the day before to 1,609, the Baltic Panamax Index rose 11 to 1,512 and the Baltic Handy Index gained one to 1,153, while the Baltic Capesize Index fell six to 2,171.

In the grain sector, higher rates were fixed from the Atlantic to the Far East, brokers said. Although brokers were disappointed at the level obtained by the 1999-built Red Cherry 73,350 dwt from Hanjin delivery U.S. Gulf end May trip Far East at $11,200 daily plus a $230,000 ballast bonus, other fixtures were concluded at more generous levels.

The Far East market was also more active for Panamaxes, although not on the same scale as the Atlantic.

Little news emerged from the Handy size market, but Cargill was thought to have fixed 15,000 tons grain up river Plate/Tunisia and Nidera was believed to have fixed Semiramis for 25,000 tons grain up river Plate/Algeria prompt at $26.25. — (Reuters)

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

Bulk Carrier Trends

Great Lakes Coal Falls Short in 2014

Despite a nearly 1-million ton increase in coal shipments on the Great Lakes in December, the surge was not enough to enable the trade to outperform 2013, the Lake Carriers’ Association (LCA) said,

Maersk Chief Warns on Global Trade

Nils Andersen,  chief executive  of AP Møller-Maersks, has warned that global trade will never return to scorching pre-crisis growth rates, in part because western

MOL’s Newbuilding Yahagi Maru Delivered

Mitsui O.S.K. Lines, Ltd. today announced the delivery of the coal carrier Shin Yahagi Maru, which will serve Chubu Electric Power Co., Inc. The vessel was delivered

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Port Authority Salvage Ship Electronics Ship Repair
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: 0.1042 sec (10 req/sec)