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

Ship Repair & Conversion

Keeping to the Schedule in the Pacific Northwest

When a tightly scheduled repower for the Kodiak-based trawler Sea Mac in early December took a very bad turn, Mike Fourtner used his 25 years of fishing experience

Optimarin ,Goltens Ink BWT Retrofit Agreement

Ballast Water Treatment (BWT) specialist Optimarin and Goltens, a provider of engineering and installation solutions for the shipping industry, have signed a nonexclusive

China's Scrap Yards Apply for EU Regulation

China's Zhoushan Changhong International Ship Recycling and Jiang Xiagang Changjiang Ship Recycling Yard, world’s two biggest ship scrap yards by capacity,  have

Bulk Carrier Trends

Port Workers in Argentine Grain Hub End Strike

Port workers in part of the Argentine grains hub of Rosario lifted a work stoppage on Friday, only a day after they went on strike over demands for higher year-end bonuses, a union official said.

US Plans to Shut Royalty Loophole on Coal Exports

U.S. coal companies will no longer be able to settle royalties at low domestic prices when they make lucrative sales to Asia according to reforms proposed by the Interior Department on Friday.

Great Lakes Coal Trade Slows in November

Coal shipments on the Great Lakes totaled 2.6 million tons in November, a decrease of 3 percent from a year ago, as shipments were affected by weather-related delays,

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Pipelines Pod Propulsion Ship Electronics Ship Repair 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: 0.1602 sec (6 req/sec)