Panamax Ships at Anchor – Hire Rates Rising

Bloomberg
Tuesday, April 10, 2012

Ship rates rising most since 2009 as owners anchor bulk carriers

Ship owners are anchoring the most commodity carriers since at least 2008 after the biggest slump in rates for more than a decade, cutting capacity just as Brazilian farmers prepare for record soybean exports, according to a Bloomberg report filed by Alaric Nightingale.

More than 25 percent of the Panamax fleet was anchored last month, the most in data compiled by Bloomberg since 2008. Daily rates for the 750-foot-long vessels will average $10,000 this quarter, 25 percent more than in the first three months and the biggest increase in more than two years, the median of nine analyst estimates shows.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Bulk Carrier Trends

Baltic Index Down on Lower Capesize, Panamax Rates

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, slipped on Friday, as demand for capesize and panamax vessels fell.

Aging Seaborne Steel Products

In 2015, seaborne steel products trade accounted for around a fifth of minor bulk trade, having grown on average by 6 percent per annum since 2010, according to Clarksons Research.

Entrance to Port of Santos Reopens

The entrance to Brazil's largest  reopened on Thursday, after rough seas prevented ships from entering or leaving for more than 30 hours during peak soy export season.

Finance

MARAD: $5 Mln Available for Marine Highway Projects

The Maritime Administration (MARAD) has announced the availability of $5 million in Federal funding to expand marine highway service by creating new or expanding

Baltic Index Down on Lower Capesize, Panamax Rates

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, slipped on Friday, as demand for capesize and panamax vessels fell.

Oil Rally is Not Just About Hedge Funds: Kemp

Oil prices are becoming dangerously overheated as speculators anticipate a rebalancing of supply and demand that has barely started, according to many oil analysts.

 
 
Maritime Contracts Maritime Security Navigation Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Sonar 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: 0.0596 sec (17 req/sec)