Market Offers Positive Features For Owners

Friday, September 10, 1999
An increase in caper demand and consequent higher rates coupled with significantly stronger levels of enquiry for panamaxes, especially from Japanese charterers in the Far East, were positive features for owners, brokers said. The Panamax development was also seen as positive for Atlantic rates as it was likely to reduce the number of vessels ballasting from the Pacific to the U.S. Gulf. The Baltic Freight Index (BFI) rose eight points to 1,051, the Baltic Panamax Index gained three points to 996, the Baltic Capesize Index jumped 28 points to 1,300, and the Baltic Handy Index was up three points to 845 points. Brokers said that grain charterers requiring panamaxes on the Continent for business to the Middle East were forced to increase their rate ideas sharply. Modern vessels were asking at least $10,000 daily against charterers ideas of over $9,000. Egyptian charterers were thought to be trading Panamax tonnage for U.S. Gulf/Egypt, while Ator was linked with similar business to Iran. Both were on timecharter basis but further detail were unknown. Charterers were firm for 54,000 tons heavy grains U.S. Gulf/Japan for October at $19.75 no combo. Brokers said the rate for earlier positions was some 50 cents less. Cargill fixed 50,000 tons pellets Paranagua/South Korea for September 12/17 at a little over $21, and Toepfer fixed Phoenix M 1.2 million cubic feet grain U.S. Gulf/Ireland spot at $15 fio basis 55 feet seven days. In the East, Oinoussian Sky 64,300 dwt was fixed for grain from Nopac end September to the Far East at $6,000 daily plus $60,000 ballast bonus.
Maritime Reporter June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ship Repair & Conversion

Danish Ports Approve HullWiper

Authorities at the Danish ports of Copenhagen, Kalundborg and Fredricia have granted permission for GAC EnvironHull’s pioneering, diver-free, underwater HullWiper

GAIL to Offer Sops for Foreign Shipbuilders

GAIL India will offer foreign shipbuilders five years to make liquefied natural gas (LNG) carriers in India, double the time allowed to deliver ships from their home shipyards,

Shipping Gloomiest Since 2009

The shipping industry is the most pessimistic in six years about its prospects as a fleet surplus persists, according to a survey by law firm Norton Rose Fulbright, says a report in Reuters.

Bulk Carrier Trends

Dry Bulk Market Crisis: Opportunity or Threat?

The shipping industry is experiencing the biggest dry bulk market recession since the 1980s, as uncertain global economic outlook and increased imbalance between

Lakes Limestone Trade Tops 4 Mln Tons in June

Shipments of limestone on the Great Lakes totaled 4,042,766 tons in June, an increase of 6 percent compared to May, and 9-plus percent compared to a year ago, according

Diana Agrees Charter for M/V Coronis

Diana Shipping Inc. announced today that through a separate wholly-owned subsidiary, it entered into a time charter contract with Sandgate Maritime Ltd for one of its Panamax dry bulk vessels,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Pipelines Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction
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: 0.1805 sec (6 req/sec)