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 June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Bulk Carrier Trends

COSCO Receives Fund for Fleet Renewal

China COSCO Holdings Co Ltd says it has received ship scrapping subsidies for about 3.96 billion yuan ($638.71 million).    It came through China Ocean Shipping,

Shipping Confidence at 7-year Low -Survey

Overall confidence levels in the shipping industry fell during the three months to May 2015 to a level equal to the lowest rating recorded in the past seven years,

Hyundai Sees Mega Ships Leading Global Demand

As the demand for mega vessels has increased, Hyundai Heavy Industries Co. expects mega- sized container ships to lead global orders until early next year as shipping

 
 
Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pipelines Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction
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: 0.1688 sec (6 req/sec)