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 August 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ship Repair & Conversion

Fugro Achieves Innovation through Integration

When Aberdeen-based Diamond Offshore wanted to add new functionality to the existing helideck monitoring system on the Ocean Guardian drilling rig in the North Sea,

Refurbished Seajacks Vessels Leave Shipdock Amsterdam

Seajacks Leviathan and Seajacks Kraken are prepared for their coming assignments, following a series of repair and renewal jobs by Shipdock Amsterdam. The shipyard,

BAE Systems Awarded Two Navy Contract Modifications

The US Department of Defense informs it has awarded separate contracts to BAE Systems in Jacksonville and in Norfolk for ship repairs and modifications as follows: 1.

Bulk Carrier Trends

Redwood City Sees Cargo Movement Boost

Port of Redwood City reports 19% increase in cargo movement; highest since 2006 and third highest in modern history Reflecting a significant increase in construction

Nordic American Offshore Declares 2Q Dividend

Nordic American Offshore Ltd. announced that its Board of Directors has declared a dividend of $0.45 per common share for the second quarter 2014. This is the same as for the first quarter 2014.

Vale Profit Falls Amidst Record Output

Brazilian miner Vale SA posted a sharp decline in profit from the previous quarter as lower iron ore prices undermined record production of the steel-making ingredient.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Ship Simulators 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: 0.1218 sec (8 req/sec)