Marine Link
Monday, September 26, 2016

Panamax Rates Expected to Improve

March 13, 2001

Panamax freight rates are expected to improve this week, although the Baltic Panamax Index rose just one point to 1,626 on March 12. Shipbrokers said Panamax freight rate movement for voyage charters has been tentatively positive recently, and while some timecharter rates have been marginally negative compared with previously done levels, the Panamax sector seems to be stabilizing ahead of an upward move. The only cause for concern was the decline in the Capesize sector. While it is not impossible for rates in the dry bulk carrier sectors to move in different directions, as the opposite trends of the Capesize and Panamax demonstrated last year, it will be difficult for the Panamax market to ignore a failing Capesize sector. Meanwhile, recent fixtures included the charter of the 1999-built 74,002 dwt Far Eastern Queen. The Panamax has been booked to transport a 56,000-ton heavy grain cargo at $21.60 per ton from the U.S. Gulf to Taiwan, said shipbrokers. Charterers are also looking for Panamaxes to transport grain from the U.S. Gulf to Egypt, and it appears that the $14 per ton mark achieved in previous fixtures is the aim of charterers again this week. — (Reuters)


Maritime Reporter Magazine Cover Sep 2016 - Maritime & Ship Security

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News