Panamax Slide Should Continue

Monday, February 12, 2001
Panamax owners are unlikely to experience any relief from the current slide in earnings until March. February load freight rates have fallen further as a result of reduced enquiry, most obviously in the Atlantic, for both grain and mineral Panamax loads. Brokers expect that this situation will continue until South American grain shipments emerge in March. The noticeable absence of Japanese charterers has undermined the already weaker Panamax grain trades in the Far East, allowing freight rates to decrease.

Brokers report that Pan Ocean booked the 1981-built Anna, delivery U.S. Gulf, for a trip East at $8,250 daily with a $150,000 ballast bonus. Market speculation that Cargill has managed to secure a US Gulf to Continent trip at $12 per ton appears to be unfounded, but brokers are hesitant to completely discount the rumor.

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Bulk Carrier Trends

Cargill: 50,000T of Sugar Affected by Brazil Fire

Approximately 50,000 tonnes of sugar were stored in a warehouse affected by fire in the Teag terminal in Brazil on Monday, Cargill Inc said in a statement. The terminal,

Simushir Under Tow by Barbara Foss

Foss Maritime's ocean-going tug, the Barbara Foss, is towing the Russian cargo vessel, Simushir, which lost power late Thursday night off the west coast of Haida Gwaii.

Vancouver Welcomes Bulker on Her Maiden Voyage

The Port of Vancouver USA welcomed the M/V Jobst Oldendorff, commanded by Capt. Baisie of Ghana, on her maiden voyage October 16. Capt. Baisie and his 21-member

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Pipelines Pod Propulsion Ship Electronics Ship Repair 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: 0.1012 sec (10 req/sec)