Dispute Settled Between U.S. and Japan

Monday, December 18, 2000
Good news for panamax shipowners emerged as the dispute between the United States and Japan over the genetically modified maize StarLink appeared to be over, brokers said. Japan's Agriculture Ministry said it had agreed to a U.S. plan for testing corn to be shipped to Japan for animal feed to ensure that it does not include StarLink. Brokers said the news was optimistic as it meant the usual U.S. maize trade to Japan would be able to resume in earnest, adding that panamaxes trading towards the U.S. Gulf could therefore look forward to an increase in demand over the holiday period and beyond. Of the fixtures reported recently for U.S. Gulf shipment, the 1998-built 72,474 dwt Mar Reina has been booked for a voyage charter from the U.S. Gulf to Egypt. The ship is due to load a 60,000-ton heavy grain cargo at a freight rate of $14.00 per ton. Loading is scheduled to take place between December 27, 2000 and January 5, 2001. The rate compares well with the $13 per ton negotiated for the same route at the start of December for prompt loading dates, though the market has some way to go before the $16.50 per ton levels of early November are revisited. Shipbrokers said they expected the existing upward trend for panamax freight rates to persist through to the end of the week. With new business expected out of the US Gulf, it is also possible that the usually quiet period between Christmas and the New Year could be more active than previously expected, they said, adding that panamax business from South America was also showing signs of being very active for the time of year. - (Reuters)

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Shipping, Key Ingredient of EU’s Africa Agenda

The African economy has become one of the most promising global growth markets. Shipping is taking care of the largest part of international trade and in Africa

Ocean Economy Set to Double in Size by 2030

The world’s oceans must be managed well to ensure the potential of an “ocean economy” that was worth US $ 1.5 trillion in 2010.   "Calculations based on the

Chevron Suffers Loss, Plans Job Cuts

Chevron Corp. reported a first-quarter loss as slumping oil prices continued to drag down revenue. The company said that it is "on target" to lay off a total of 8000 workers by the end of 2016,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Pipelines Salvage Ship Electronics Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | 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: 0.0696 sec (14 req/sec)