Lackluster U.S. Gulf to Japan Charter Is to Blame for Panamax Rates

Monday, April 02, 2001
A lower than expected U.S. Gulf to Japan voyage charter has set the tone for the panamax sector, brokers said on Monday.

The 1982-built, 60,052 dwt Marienvoy was reported fixed at $21.75 per ton of heavy grains basis no combination destination ports. Loading is scheduled for the end of March to the beginning of April.

While the rate no doubt also factors in the age of the panamax, brokers pointed out that the present market level for modern panamaxes of 15 years or younger for this route is around $22.35 per ton, according to the Baltic Panamax Index (BPI).

While the Pacific time and voyage charters ease back, however, the fronthaul panamax market is showing signs of marginal improvement. Shipowners, it seems, would prefer to take their chances in the Atlantic at the moment, brokers said, adding that charterers are starting to consider paying a premium in order to charter a panamax to enter the Pacific.

Freight rates for Atlantic panamax trading in general appear to be holding, although some levels have been shaved. Activity in the Atlantic remains focused on the South American market, with both panamaxes and handies finding trade in the area., brokers said.

For handies of 30,000 dwt, charterers are willing to pay between $20.50 and $22 a ton to transport different grain cargoes in mid-April from South America to the Continent and Mediterranean. On the timecharter front, older panamaxes of late-1970s build have attracted around $9,000 for South America round voyages, with newer ships securing higher rates

The 1994-built, 73,236 dwt Thalassini Niki was been chartered at $11,500 daily plus $230,000 ballast bonus for delivery Paranagua on April 15-20, with redelivery scheduled for the Continent, by grain house Bunge.

For contrast, the 1987-built, 42,620 dwt Irene set for delivery east coast of South America in early April for a trip to the Continent has also been reported fixed at $10,000 daily plus $165,000 ballast bonus, brokers said.

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

People & Company News

Liebherr to Deliver RTGs to Mayotte and Manila

Liebherr confirms orders for variable speed RTGs and electric RTGs. DPWorld Asian Terminals Inc. has placed an order with Liebherr Container Cranes for a further 5 RTGs at its Manila facility.

U.S. Navy Contracts 12 Rapid Response Skimmers

Kvichak Marine won a US Navy contract for 12 30-ft.Rapid Response Skimmers (RRS) for delivery over the next 18 months, with options for up to 30 additional skimmers to be delivered through 2019.

DP World Receives 1st Scheduled Vessel at New Terminal

DP World has yesterday welcomed the first scheduled vessel to call at its new Container Terminal 3 in Jebel Ali, Dubai, as it gears up to serve customers at the state-of-the-art facility.

Bulk Carrier Trends

NewLead Fixes Newcomer, "Newlead Castellano"

NewLead Holdings Ltd. announced today that it has entered into a time charter contract for the recently delivered Handysize vessel, the "Newlead Castellano".

Great Lakes Coal up More Than 12% in September

Lake Carriers’ Association reported that coal shipments on the Great Lakes totaled 3 million tons in September, an increase of more than 12 percent compared to a year ago.

Containers, Cruises Help Boost Marseilles Fos

Container throughput at French port Marseilles Fos reached 876,711 teu for the period January to September, an increase of 6% on the first nine months last year.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Pipelines Pod Propulsion 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: 0.2549 sec (4 req/sec)