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

People & Company News

US Shippers, West Coast Dockworkers Union Resume Contract Talks

Negotiators for shipping lines and terminal operators at 29 U.S. West Coast ports resumed contract talks with the union for dockworkers on Thursday, as cargo backups continued at the ports,

River Bell Awards Acclaim Maritime 'Family'

The Seamen’s Church Institute (SCI) recognized two inland maritime industry leaders at an annual awards luncheon Thursday, December 11, 2014, in Paducah, Ky.   The

NASSCO Cuts Steel on APT "ECO Tanker"

General Dynamics NASSCO started construction of another ship in its commercial shipbuilding backlog, starting construction of a second “ECO” tanker to be built

Bulk Carrier Trends

Great Lakes Coal Trade Slows in November

Coal shipments on the Great Lakes totaled 2.6 million tons in November, a decrease of 3 percent from a year ago, as shipments were affected by weather-related delays,

Bulker Chief Engineer Convicted of Environmental Crimes

A chief engineer from the M/V Trident Navigator was convicted by a federal jury in New Orleans late yesterday after a week-long trial, of knowingly falsifying the

Wrecked Bulker’s Bow Refloated, Scuttled off S.Africa

TITAN Salvage, Crowley Maritime Corp.'s Houston-based marine salvage, emergency response and wreck removal company, has refloated and scuttled the largest section of the wrecked bulk carrier, Smart.

Vessels

Waterjet-propelled Crewboat Delivered to Petrobras

BS Camburi, a 36-meter Monohull Crewboat built in Brazil by Arpoador Engenharia to the Petrobras type P2 specification has been launched and delivered.   Designed by Incat Crowther,

K Line to Expand Use of Eco-efficiency Software

Three further K Line vessels to install ClassNK-NAPA GREEN eco-efficiency software after reporting fuel savings during trials on an 8,600 TEU container vessel   NAPA

Hoists Facilitate Offshore Crane Repairs

When the diesel engine of a deck crane failed, it caused major handling problems for an offshore platform operating in the Dutch sector of the southern North Sea,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators 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: 0.1298 sec (8 req/sec)