Panamax Trades Steady

Monday, January 15, 2001
Freight rates for Panamaxes trading the Atlantic appear to be steadying, Reuters reported. The more stable tone began at the end of last week, as renewed optimism crept into the U.S. Gulf market for nearby positions. By Monday, while the Atlantic routes on the Baltic Panamax Index were lower, losses were greatly reduced. Meanwhile, Pacific Panamax freight rates remained firm, and levels in the Far East sector continued to rise. Looking ahead, with the Lunar New Year fast approaching any major change in trend is unlikely over the coming week. This quashed any high expectations for an Atlantic Panamax rally, they said. Any positive movement is forecast to be steady - at least until after the Far East holiday. Then, activity is expected pick up with the Panamax sector ready to absorb an accelerated business pace and possibly better freight rates. Meanwhile, week-on-week earnings for Panamax tripcharter from the Far East to the Continent have risen to an average of $11,000 daily according to Clarkson Research Studies, up $1,000 on last week. Trip charter rates for Panamax transpacific round voyages have also shown strong gains, bringing average daily earnings to around $10,500. Week-on-week average Panamax earnings for the Atlantic Panamax trades have eased back slightly to around $9,250 daily for Continent to Far East trips, and also transatlantic round voyages.
Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

China Shipyards Bag the Week's Ocean-going Newbuild Orders

Reported ordering this week has been exclusively focussed on the Chinese yards, says Clarkson Hellas in their latest 'S&P Weekly Bulletin'. Dry bulk carriers COSCO

Scorpio Tankers Report Q2, 1H 2014 Profit Slip

Scorpio Tankers Inc. has reported its results for the three and six months ended June 30, 2014. Highlights excerpted here as follows: Results for the three months ended June 30,

MTN Lands Cruise Line SatCom Contracts

MTN Communications (MTN) says that three cruise operators around the world have selected the company for its passenger, crew, corporate communications and content services.

Bulk Carrier Trends

China Shipyards Bag the Week's Ocean-going Newbuild Orders

Reported ordering this week has been exclusively focussed on the Chinese yards, says Clarkson Hellas in their latest 'S&P Weekly Bulletin'. Dry bulk carriers COSCO

Marseilles Fos Reports Mixed First Half

First-half container traffic at leading French port Marseilles Fos totalled 583,287 teu – up 7% on the first six months last year - marked by a 10% increase at the deepsea Fos terminals.

GPA Sets Tonnage Record

The Georgia Ports Authority moved more than 29 million tons of cargo, 3 million twenty-foot equivalent container units (TEUs) and more than 700,000 auto and machinery units in Fiscal Year 2014.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Ship Electronics Shipbuilding / Vessel Construction
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: 0.1073 sec (9 req/sec)