Panamax Rates Hold Steady

Wednesday, June 27, 2001
Freight rates in the Atlantic Panamax sector held steady on Wednesday amid signs that recent rises may be stalling, brokers said. "The Atlantic is holding up well, but the question is not whether the Panamax market will rally further, but when the Atlantic will come off," one said. Until then, Atlantic and Pacific Panamax rates were expected to remain steady. Signs that the market was reaching its pinnacle were heralded by the Baltic Panamax Index (BPI) on Monday, when rises in both the Atlantic and Pacific were noticeably smaller. The trend persisted on Tuesday, and by Wednesday the BPI rose just two points to 1,436. Freight rates remained high enough, however, to encourage charterers to continue with timecharter deals. A grain house has taken the 1990 built 69,637 dwt Torm Marina for an east coast of South America round voyage. Redelivery is scheduled for the Skaw-Passero range and the rate of the charter is said to be a steady $11,000 daily. Cargill is reported to have chartered the 1998 built 71,671 dwt Giant Pescadores for early-July Aden delivery and two to three laden legs at a rate of $10,100 daily. The 1986 built 70,653 dwt Alexandraki has been chartered for a trip to Brazil and Iran, with redelivery agreed as passing Muscat outwards at a rate of $11,100 daily. - (Reuters)
Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Technology

GOST to Unveil New Products at MSE Conference

GOST (Global Ocean Security Technologies),announced today that it will highlight its newest commercial maritime products at the 2015 Maritime Security East conference in Jacksonville,

Sunken Japanese WWII Battleship Found

Seventy years after the conclusion of World War II, philanthropist and entrepreneur Paul G. Allen has located the Musashi, one of the two largest and most technologically

ThyssenKrupp Says Submarines Part of Growth Story

Germany's Thyssenkrupp sees its submarine business as making an important contribution to its growth targets, the head of its Industrial Solutions business area said on Tuesday.

Bulk Carrier Trends

MacGregor Wins Chinese Shipyard Order

MacGregor, part of Cargotec, has received an order from Wuhu Xinlian Shipyard in China for eight MacGregor dry bulk cement handling systems.   The fully automated

NORDEN Publishes CSR Report

Dampskibsselskabet NORDEN A/S has published its Corporate Social Responsibility (CSR) report 2014. Entitled, “On track”, the CSR report presents an overview of NORDEN’s CSR strategy,

Newlead Bags Panamax COA

NewLead Holdings Ltd. announced today that it has entered into a Contract of Affreightment for one of its dry bulk vessels, the Panamax Newlead Markela, for the transportation,

 
 
Maritime Careers / Shipboard Positions Maritime Security Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction Sonar
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: 0.1030 sec (10 req/sec)