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 January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ship Repair & Conversion

The Art of Propeller Making

The world’s biggest propellers have their cradle in the North of Germany. MMG – Mecklenburger Metallguss GmbH – has manufactured for more than 65 years propellers for ships,

USACE Barges, Tugs Up for Repair

The United States Army Corps of Engineers (USACE) Buffalo District has awarded a repair contract to Great Lakes Shipyard for two tugs and two barges from the Corps’ Cleveland Field Station.

Signal Ship Repair Achieves OSHA Milestone

Signal International announced that on December 31, 2014, the Signal Ship Repair Operations located in Mobile, Alabama achieved one full year and worked 387,926 manhours,

Bulk Carrier Trends

Puget Sound Container Volumes Flat in 2014

Container volumes through Puget Sound’s largest container ports remained flat in 2014, according to numbers released jointly for the first time by the ports of Seattle and Tacoma.

Ecochlor BWTS Chosen for 8 New Bulkers

Times Navigation, Inc. has selected Ecochlor, Inc. to provide ballast water treatment systems (BWTS) for installation on a fleet of eight new CROWN63 (63,500 DWT)

Port of Redwood City Sees Cargo Increase

The Port of Redwood City experienced a five percent increase in cargo movement across its docks for the first half of fiscal year 2014/2015 that ended December 31, 2015.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Pipelines Pod Propulsion Salvage Ship Electronics 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: 0.1553 sec (6 req/sec)