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Panamax Market

Atlantic Panamax Rates Weaken

The buoyancy detected in the Atlantic Panamax market over the past two weeks has waned, brokers said. Fresh orders from the U.S. Gulf were described as light and the limited opportunities in the area could prompt Panamax owners to accept softer levels, they said. Restricted barge movement along the Mississippi was also said to be contributing to the situation, while a number of Far East participants had yet to return to business after the Lunar New Year holiday. Despite the slowdown, brokers did report a number of fresh enquiries. Grain cargoes seeking Panamax transport included some heading to the Far East from the U.S. Gulf and others heading towards Egypt. Whether the softer Atlantic Panamax undertone would persist, however, or whether the market would bounce back, remained to be seen, brokers said. In the wake of the seven-point drop on the Baltic Panamax Index on Tuesday afternoon, brokers continued to speculate on future developments. - (Reuters)


Panamax Market Remains on Road to Recovery

The panamax market remained on track for a recovery from the recent slump, despite various public holidays, brokers said on Wednesday. Although South Korea, India and several European countries were absent from the grain market on Wednesday, brokers said that the outlook was positive. This was particularly true of the Atlantic panamax trades, where deals continued to be concluded off market at firmer levels, they said.


Panamax Rates Slip Slightly

Panamax freight rate ideas for the immediate future have slipped back slightly, shipbrokers said. Overall, Panamax freight rates in the Atlantic are seen as softer, while the Pacific market is deemed relatively steady. However, shipbrokers are eager to see some sign this week that the Panamax market will stabilize. The start of the week saw a three to five month period charter fixed at $11,000 daily for the 1990 built 68,789 dwt Antwerpia, but the latest booking, for the 1989 built 69


Capesize Values Drag but Earnings Set to Rebound

Dry bulk asset values dropped sharply in November and have reached 16-year lows, partly driven by very weak sentiment over the near-term future for vessel earnings, according to the latest Dry Bulk Freight Forecaster from shipping research and consultancy firm Maritime Strategies International (MSI).   However, despite a bearish forward view of dry bulk fundamentals, MSI is more positive than the freight futures market’s forward curve for Capesize and Supramax spot rates in Q2


Asia Dry Bulk-Capesize Rates to Remain Steady

File Image (Credit BSM)

Owners seeking to push rates higher, close to year-long highs; dry bulk sector to see greater consolidation - BIMCO. Freight rates for large capesize dry cargo ships on key Asian routes are likely to remain steady next week even as owners try to push rates up close to year-highs, ship brokers said. That came as charter rates stayed firm despite China's week-long National Day holiday which ends at the weekend.


Excess Tonnage Weighs on Asia Dry Bulk-Capesize Rates

File image: a so-called ValeMax bulk carrier (Credit: Vale)

Capesize market "absolutely dead" on Thursday - broker. Vale says no new cargoes but owners sail empty vessels to Brazil. Freight rates for large capesize dry cargo ships on key Asian routes will continue to fall next week as too many ships chase available cargoes, brokers said on Thursday. "The market is absolutely dead today - it's all very doom and gloom," said a Singapore-based capesize broker on Thursday.


S&P Lowers Pegasus Rating

Standard & Poor's lowered its corporate credit rating on Pegasus Shipping (Hellas) Ltd. (Pegasus) to triple-'C'-minus from single-'B'-minus. At the same time, Standard & Poor's lowered its foreign currency senior secured debt rating to triple-'C'-minus from single-'B'-minus. All ratings are placed on CreditWatch with negative implications. The rating actions reflect Pegasus' rapidly diminishing financial flexibility owing to weak market conditions


Increased Panamax Rates Boost Market Sentiment

Higher panamax freight rates have boosted sentiment in the market amid hopes for further rates increases during the week, shipbrokers said on Monday. They gave as prime example the latest U.S. Gulf to Japan fixture at a rate of $23.25 per ton of heavy grain for mid-July loading dates, this compared with the present Baltic Panamax Index showing an average $22.86 per ton. Firmer fixtures had been also reported for both the Pacific and the Atlantic, brokers said.


Asia Dry Bulk-Capesize Rates Likely to Remain Flat

File Image: a so-called ValeMax Bulk Carrier

Chinese iron ore and coal imports to fall in 2016 - Clarkson Freight rates for capesize bulk carriers on key Asian routes are likely to stay flat as vessel volumes outpace cargo demand and the approaching Chinese New Year holiday further dampens chartering activity, ship brokers said on Thursday. There is little hope of any improvement in rates, which remain at near 16-1/2-year lows, even after the Chinese New Year holiday which starts on Feb. 7, brokers said.


Picking Up Panamaxes Like Pokemon

Image: Alibra Shipping Ltd. Research

 Alibra Shipping Research Weekly Market Report takes a look on current market scene of bulk carriers.   For a little while now, the story has been “Now’s a great time to buy bulk carriers, asset prices are low…” We’re cautious of following the herd mentality so we wondered: is that still the case or has the moment passed?   On Monday, the Baltic Exchange assessed the price of a five-year-old, 74,000-dwt Panamax at $13.6m


Lower Rates for Bigger Vessels Drag Baltic Index Down

© Volodymyr Kyrylyuk / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for the ninth consecutive session on Friday, weighed down by lower rates for larger vessel segments. The overall index — which factors in rates for capesize, panamax


Diana Adds Post-Panamax Bulker, Bags Contracts

Photo: Diana Shipping

 Diana Shipping announced that, through a separate wholly-owned subsidiary, it has taken delivery of the m/v Phaidra (formerly “Soya May”), a 2013 built Post-Panamax dry bulk vessel of 87,146 dwt that the Company entered into an agreement to purchase in April 2017.  


Baltic Index Slides for 4th Straight Day

© jcfmorata / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for the fourth straight session on Thursday, pressured by lower panamax vessel rates. The overall index, which factors in rates for capesize, panamax


Weaker Panamax Rates Weigh on Baltic Index

File photo: Star Bulk

The Baltic Exchange's main sea freight index fell slightly on Monday, as sliding panamax rates offset gains in capesize earnings.   The Baltic index, which tracks rates for ships carrying dry bulk commodities, was down for the sixth straight session.  


Diana Shipping Signs Time Charter Contract with Caravel

m/v Dione. Photo: Diana Shipping Inc.

 Diana Shipping has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Caravel Shipping Limited, Hong Kong, for one of its Panamax dry bulk vessels, the m/v Dione, for a period of minimum nine (9) months to about twelve (12) months


Asia Dry Bulk-Capesize Rates could Diverge on Market Conditions

File Image (CREDIT: AdobeStock)

Australia-China rates could climb on improved weather. Brazil-China rates to hold steady, fall on lack of charters.   Freight rates for large capesize dry cargo vessels on key Asian routes could diverge next week with rates from Australia to China rebounding on improved weather


Higher Capesize, Panamax Rates Lift Baltic Index

File photo: Star Bulk

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose for the third straight session on Friday, buoyed by stronger capesize and panamax vessel rates. The overall index, which factors in rates for capesize, panamax


Baltic Index Streaks to Highest Level since 2014

© corlaffra / Adobe Stock

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, continued its gaining streak on Tuesday with a fresh more-than-two-year high, driven by strong demand for large iron ore vessels. The overall index, which factors in rates for capesize


The (Really) Big Lift

Photo: SC Ports

Cranes: much more than just critical equipment.  At ZPMC, it means the supply chain itself.   In post-Panamax world – that is to say one which includes an expanded, deepened and improved Panama Canal – there are many layers to the logistics onion


Asia Dry Bulk-Capesize Rates Set to Climb Again

File Image (CREDIT: AdobeStock / Lidian Neeleman)

Capesize rates hit new multi-month highs this week; BHP and FMG likely to renew chartering activity next week.   Freight rates for large capesize dry cargo vessels on key Asian routes, which hit multi-month highs on Tuesday, could climb further on increased chartered activity by miners


Baltic index Slips as China Holiday Dampens Capesize Demand

© Federico Rostagno / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, marked its biggest one-day percentage decline in over one month, as a holiday in China weighed on demand for capesize vessels. The index, which factors in rates for capesize, panamax


Baltic Index Down For Sixth Straight Session

File Image (CREDIT: AdobeStock)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, dipped for the sixth consecutive session on Thursday on softer capesize rates. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Baltic Index Rises as Panamax Rates Hits High

© fresh_water / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Wednesday as panamax rates surged to their highest in over three years and capesize activity firmed up. The overall index, which factors in rates for capesize, panamax


Baltic Index Falls to Weakest Since Mid-December

© norinut / Adobe Stock

The Baltic Exchange's main sea freight index marked its biggest percentage decline since mid-December on Friday as rates for larger vessels dipped due to limited activity. The Baltic index, which tracks rates for ships carrying dry bulk commodities, was down 3.86 percent.


Baltic Index Down For Sixth Straight Session

© Hellen Sergeyeva / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for the sixth consecutive session on Tuesday on lower rates for larger vessel segments. The overall index, which factors in rates for capesize, panamax






 
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