Pacific Panamax Rates Drop

Tuesday, May 15, 2001
Pacific Panamax freight rates have dropped sharply in line with weaker Asian Panamaxes, brokers said. Average rates for Pacific round voyages fell to $9,600 daily, down $169 from Monday, and down $217 from last week. Brokers said that the result will make Panamax owners reluctant to trade fronthaul business without negotiating premium rates. The declining rates could deter owners from moving ships into the Pacific, but brokers said that if Panamax owners re-entered the Atlantic, this could support Pacific rates. For example, the Panamax for the 1986-built 61,013 dwt Andromeda was for Passero delivery in May for a trip via Brazil. If re-delivery took place in the Atlantic the freight rate would be $10,500 daily, but there is an option for redelivery in the Far East at $11,500 daily, brokers said. Panamax rates remain strong in the Atlantic. Swiss commodities trading house Glencore chartered the 2001-built 75,115 dwt Thalia for mid-May Ghent delivery for a trip via North France and Iran for $16,000 daily, brokers said. The rate is higher than the $15,000 negotiated by the 1999-built 75,484 dwt Golden Nerina at the end of last week, which was fixed for a Brazil round voyage. In the voyage charter sector, the 1990-built 68,789 dwt Antwerpia was chartered to carry 56,000 tons of heavy grains from the North Pacific to Japan at a freight rate of $14.10 and is due to load at the end of May for Dreyfus, brokers said. - (Reuters)
Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Boatbuilding in China

While much of the focus on coverage of the Chinese shipbuilding industry is on big shipbuilding, Maritime Reporter switches gears this month to explore activities in select boatbuilding sectors.

HMS Prince of Wales Bridge Sets Sail

The bridge section of the second Queen Elizabeth Class aircraft carrier set sail today from Glasgow on its first sea voyage to Rosyth.   Upper Block 07 is where

The German Shipbuilding Rebound

German shipbuilding has made a significant turnaround. The country’s shipbuilding industry has seen increases in the number of employees, orders and deliveries compared to 2013,

Bulk Carrier Trends

The German Shipbuilding Rebound

German shipbuilding has made a significant turnaround. The country’s shipbuilding industry has seen increases in the number of employees, orders and deliveries compared to 2013,

Algoma Central Orders New Great Lakes Ships

Algoma Central Corporation announces $160 million investment in fleet expansion and fleet renewal   Algoma Central Corporation announced that it has acquired

Baltic Index Inches Up on Increased Rates for Bigger Vessels

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged higher on Friday on increased rates for bigger vessels.

 
 
Maritime Contracts Maritime Standards Navigation Offshore Oil Port Authority Salvage Ship Electronics Ship Repair Ship Simulators 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: 0.1567 sec (6 req/sec)