Increased Demand for Panamax Vessels, Drewry Reports

Press Release
Monday, March 25, 2013

A decline in demand for Capesize vessels has been countered by an improvement in demand for Panamax vessels, according to the latest Dry Bulk Insight published by Drewry Maritime Research. This left the Drewry Hire Index unchanged from January’s level.

Panamax was the sole segment to record an improvement in earnings in February. Rates for vessels doing round voyages from Far East to East Australia more than doubled, rising from $3,954pd to $6,818.

Weather-led disruptions in transport have affected Australian coal exports and will continue to do so as the mines are still flooded. There was a 19% decline in coal exports from the four major ports of Queensland in January.

Colombian coal production was severely diminished throughout the month as indefinite strikes due to labor disputes at the country’s largest thermal coal exporter, Cerrejon, halted production. Colombia is losing almost 150,000 tons of output every day as a result of the strikes. Meanwhile, Columbia’s third largest exporter, Drummond, has been banned from exporting coal as it has violated environmental laws. All these problems have collectively led to a decline of 85% in Colombia’s daily coal output.

While Cerrejon and Drummond should recover quickly from the current situation, Columbia’s main railway operator might reduce its coal throughput, leading to slower export growth in the long term.
 

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

People & Company News

Duke Energy to Help Develop Jeffersonville Port Site

Duke Energy Indiana has selected a 140-acre parcel of land inside the Port of Indiana-Jeffersonville in Clark County for the utility's 2015 Site Readiness Program.

UNOLS Seeks Nominations for Council Positions

The University-National Oceanographic Laboratory System (UNOLS) is an organization of academic oceanographic institutions working in cooperation with agencies of the U.

Savannah Harbor Expansion Project Update

Lt. Gen. Thomas Bostick, commander of the U.S. Army Corps of Engineers, visited the Port of Savannah on Thursday, for an update on the Savannah Harbor Expansion Project (SHEP).

Bulk Carrier Trends

Q88 LLC Opens Office in London

Q88 LLC has opened a new office in London. Located in Soho, the cultural center of London's West End district, the office will serve as a hub for business development and client relations.

IRS Introduces Ship Construction Standards

The International Register of Shipping has submitted goal-based new ship construction standards for verification audit by the International Maritime Organisation.

Golden Ocean: Worst Bulk Market Since 1980s

Dry bulk shipping firm Golden Ocean reported first-quarter earnings below forecasts on Thursday and said its market had gone from "bad to worse" with market conditions not seen in three decades.

Vessels

IRS Introduces Ship Construction Standards

The International Register of Shipping has submitted goal-based new ship construction standards for verification audit by the International Maritime Organisation.

Bids Placed for Novy Port Icebreaker Contract

Seven companies submit bids for contract for Yamal Novy Port terminal icebreaker   The tendering process for the Yamal Novy Port terminal icebreaker design and build contract has kicked off,

Dredge Yard, Neptune Shipyards Introduce New Dredger

Dredge Yard announced it has partnered with Netherlands-based Neptune Shipyards to develop the new cutter suction dredger, EURO DREDGER 450. Iulia Berchiu, Dredge Yard’s Marketing Manager,

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Pipelines 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: 0.4425 sec (2 req/sec)