Capers Continue Firm, Uncertainty Rules Panamaxes

Friday, December 17, 1999
Conditions for Capesize vessels remained firm on Dec. 10, especially in the Atlantic, but uncertainty ruled the Panamax sector as owners sought to cover their vessels in advance of impending holidays, brokers said. Lower rates were reported in the Atlantic and the Pacific, but brokers said the Indian Ocean and South African sectors stayed firm. The Baltic Dry Index (BDI) rose four points to 1,360, the Baltic Panamax Index was unchanged at 1,277, the Baltic Capesize Index gained 14 points to 1,895 and the Baltic Handy Index fell two to 917. Grain: Weaker rates for modern Panamaxes were reported in the Atlantic, brokers said. Cargill fixed the 1996-built Eleni 73,000 dwt delivery Continent prompt for a transatlantic round voyage at a modest $8,750 daily. Some brokers believed the Panamax sector in Brazil and Argentina would become stronger but that this had yet to be reflected in reported fixtures. Ledra 64,000 dwt was said to have been fixed by Andre delivery Plate end December for a trip to Skaw/Cape Passero at a modest $7,400 daily plus $140,000 ballast bonus. The U.S. Gulf sector was quiet and brokers were awaiting fixtures to Egypt to give further guidance about market direction. In the Far East Dreyfus was believed to have fixed 54,000 tons heavy grain north Pacific to Japan for early January on subjects at an easier $13.80. Minerals: Cargill fixed Ken Kon for 140,000 tons iron ore from Brazil to Fos at a stronger $6.95, and Coeclerici was thought to have fixed 140,000 tons coal from Richards Bay to Rotterdam for first half January shipment at a firmer $9. However, Panamax rates fell in the Atlantic with Daphne fixed by Navios for 54,000 tons bauxite from Kamsar to Aughinish for early January at $6, and Noble booked the 1997-built Navios Minerva 69,600 dwt delivery Japan mid December for a north Pacific round voyage at a significantly lower $9,300 daily. - (Reuters)
Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Bill Proposed to Repay WWII Merchant Mariners

Congresswoman Janice Hahn (Calif.) and Congressman John Duncan Jr. (Tenn.) introduced the “Honoring Our WWII Merchant Mariners Act of 2015,” which would provide

Shell: UK Should Reduce North Sea Oil Tax

The British government should review a supplementary tax charge on North Sea oil producers as it has made the operation of some fields unrealistic, Shell Chief

China Watching Greece After Port Sale Shelved

China is closely monitoring the policies of the new Greek government after Athens said this week it will stop the sale of a majority stake in Greece's biggest port,

Bulk Carrier Trends

Baltic Sea Freight Index Falls to Lowest Level Since 1986

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, spiralled downwards to its lowest level in nearly three

Pacifica Rolls Out New Container Vessel

Pacifica Shipping, New Zealand's coastal shipping company, is launching a new container vessel from March replacing a smaller vessel whose charter has ended, reports The Stuff.

Shipping Pollution Will Skyrocket -Study

International freight volumes will grow fourfold by 2050 while the average length of haul will increase by 12 percent over that time, trends that will cause a spike

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Ship Simulators 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: 0.2693 sec (4 req/sec)