Pacific Panamax Market Gets Ugly

Thursday, August 02, 2001
The Pacific panamax sector was set to weaken further after the Baltic Panamax Index fell under 1,000 due to a lack of orders, brokers said on Thursday.

"There are no orders. The Baltic Panamax Index is now under 1,000 and the Pacific panamax market looks ugly," one said.

The Baltic Panamax Index was at 987, down 33 points on Thursday, and both the trans-Pacific round voyage and backhaul timecharters saw $400 cuts from the index.

Brokers said Pacific round voyage charters were being reported around $5,000, with the Atlantic equivalent seen just under $7,000 daily.

In the Atlantic, brokers said fresh orders from South America, among others, were giving some support to the market.

They said fixtures included one for the 1999-built 72,891 dwt AD Astra for mid-August north Pacific delivery followed by a trip to China at $6,000 plus $80,000 ballast bonus.

They also reported the 1998-built 73,729 dwt Global F had been booked for late August Santos or Paranagua delivery followed by a trip to the Continent at a rate of $8,000 daily plus a $120,000 ballast bonus.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Bulk Carrier Trends

Top 10 Shipowning Nations by Value

VesselsValue has provided a list ranking the top shipowning nations by value, including the percentage change difference against 2015 figures. Although the

Port of Hamburg Reports Bulk Cargo Jump in 2015

The Port of Hamburg reports higher bulk cargo throughput and strong growth in rail and inland waterway seaport-hinterland traffic in 2015 – downturn in container handling.

Brazil Agricultural Waterway Finally Reopens

Brazil's Tiete-Parana waterway, a key transport corridor for soybeans, corn, cellulose, fertilizer and other agricultural products, has reopened after a 20-month

Finance

Funding Secured for Project to Deepen the Delaware River

Dennis Rochford, president of the Maritime Exchange for the Delaware River and Bay, announced that President Obama’s FY17 proposed budget includes $33 million for the Delaware River Deepening Project.

Top 10 Shipowning Nations by Value

VesselsValue has provided a list ranking the top shipowning nations by value, including the percentage change difference against 2015 figures. Although the

Port of Hamburg Reports Bulk Cargo Jump in 2015

The Port of Hamburg reports higher bulk cargo throughput and strong growth in rail and inland waterway seaport-hinterland traffic in 2015 – downturn in container handling.

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Port Authority Ship Simulators Shipbuilding / Vessel Construction Winch
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: 0.0726 sec (14 req/sec)