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Panamax Rates

Panamax Rates Likely To Ease

Asian Panamax rates for dry bulk cargo are likely to ease further this week on soft demand for mineral and grain shipment, with many spot vessels available for hire in the market. "There have been few fresh spot inquiries by charterers," said a shipping broker. "In addition to this, the Panamax market has been under pressure from an oversupply of spot ships." Panamax rates for freights from the U.S. Gulf to Japan were indicated at $21.50-$22.00 a ton for March shipment, against $23.00 from a week ago, he said. The broker also put indication rates for April shipment around $22.50-$23.00 on hopes of a rise in vessel demand, as the South American grain export season starts in the same month. But no fixtures have been reported. In the market, one Japanese trading house was said to have fixed a Panamax vessel last week at $21.25 a ton to carry about 54,000 tons of heavy grain from the U.S. Gulf to Japan for February shipment, another broker said. Freight rates to South Korea and Taiwan were about $1.00 a ton less than those for U.S. Gulf/Japan, reflecting higher port charges in Japan, brokers said. The Panamax rates in the Asian market were also taking their cue from a soft tone in the Atlantic Panamax market, along with weakening freight rates for Capesize and Handysize, said a broker in Tokyo. Timecharter rates for the U.S. Gulf to Japan were at $10,750 a day plus $200,000 ballast bonus, against $11,000 a day plus $230,000 ballast bonus a week earlier, the Tokyo broker said


Dry Freight Markets Steady

Conditions on the dry cargo freight market were generally steadier for Capesizes on Wednesday, with the Baltic Cape Index posted at an unchanged 2,171, brokers said. Atlantic Panamax rates rose further and brokers said conditions were also slowly improving for owners in the East for later May positions. The South African sector remained firm. The Baltic Dry Index (BDI) gained two points to 1,611 and the Baltic Panamax Index rose 10 points to 1,522


Panamax Rates Hold Steady

Freight rates in the Atlantic Panamax sector held steady on Wednesday amid signs that recent rises may be stalling, brokers said. "The Atlantic is holding up well, but the question is not whether the Panamax market will rally further, but when the Atlantic will come off," one said. Until then, Atlantic and Pacific Panamax rates were expected to remain steady. Signs that the market was reaching its pinnacle were heralded by the Baltic Panamax Index (BPI) on Monday


Baltic Sea Freight Index down on Weak Capesize Rates

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, dropped for a 14th straight session on Friday, driven mainly by falling capesize rates. The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell 27 points, or 2.62 percent, to 1,002. The Baltic's capesize index fell 76 points, or 4.08 percent, to 1,789 points.


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.


Oversupply, Limited Cargoes Contribute To Weakening Panamax Rates

Panamax rates continued to weaken due to oversupply and limited cargoes on Monday, but owners were hopeful that the market was finding a floor, brokers said. The physical market remained in decline, but the forward freight agreement market was holding steady. Buying interest on the Biffex futures market on Friday had suggested a potential bounce this week, brokers said. Panamaxes struggled to find employment and charterers were still using their advantage to push rates lower.


Oversupply Leads Pacific Panamax Rates Tumble

Panamax owners in the Atlantic have fought off charterers' attempts to push freight rates lower, but panamaxes in the Pacific are weaker due to oversupply, brokers said on Wednesday. "The Atlantic looks to have reached a level, but the Pacific has some way to go yet," one said. The Baltic Panamax Index has eased this week, standing 13 points lower at 922 on Wednesday. Brokers said the increase in the panamax fleet this year was behind the decline in freight rates.


Baltic Index Inches Up on Firmer Panamax Rates

Photo: FotoFlite / DS Norden

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, edged up on Thursday as panamax rates increased. The overall index, which also factors in rates for capesize, supramax and handysize vessels, closed up 6 points, or 0.5 percent, at 1,196 points. The panamax index jumped 51 points, or 4.6 percent, its biggest daily percentage gain since March 1, to close at 1,170 points.


Panamax Rates Expected to Improve

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


Lackluster U.S. Gulf to Japan Charter Is to Blame for Panamax Rates

A lower than expected U.S. Gulf to Japan voyage charter has set the tone for the panamax sector, brokers said on Monday. The 1982-built, 60,052 dwt Marienvoy was reported fixed at $21.75 per ton of heavy grains basis no combination destination ports. Loading is scheduled for the end of March to the beginning of April. While the rate no doubt also factors in the age of the panamax, brokers pointed out that the present market level for modern panamaxes of 15 years or younger for this route


Baltic Index Down on Weaker Rates

File Image: CREDIT FedNav

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Wednesday on weaker rates for panamaxes and smaller vessels, even as rates for capesizes rose.   The overall index, which factors in rates for capesize, panamax


Baltic Index Down For Sixth Straight Session

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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


Baltic Index Down on Weaker Capesize Rates

File Image (CREDIT: AdobeStock) / (c) n neeleman)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Monday on weaker rates for large vessels.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 25 points, or 2


Baltic Index Falls to Weakest Since Mid-December

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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.


Falling Capesize Rates Weigh on Baltic Index

File Image (CREDIT: AdobeStock / (c) Lukasz Z)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Thursday on sliding rates for capesize vessels, weighed further by weaker panamax demand.   The overall index, which factors in rates for capesize, panamax


Baltic Index Down as Capesize Rates Sag

File Image (CREDIT: AdobeStock / (c) lidian neeleman)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Wednesday on weaker rates for larger vessels.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 16 points, or 1


Weaker Capesize Rates Weigh on Baltic Index

File Image (CREDIT: AdobeStock / (c) Lidian Neeleman)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Tuesday on weaker rates for capesize vessels.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down two points, or 0


Smaller Bulkers Buoy Baltic Index

File Image: a smaller, modern bulk vessel underway (CREDIT: FedNav)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Thursday, supported by stronger rates for smaller vessel segments even as capesize rates weakened.   The overall index, which factors in rates for capesize, panamax


Baltic Index Rises as Panamax Rates Hits High

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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 Strengthens on Broad Support

file Image (CREDIT: FedNav)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Tuesday on stronger rates across all vessel segments.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 31 points


Baltic Index Gains on Firmer Panamax Rates

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The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose marginally on Monday supported by stronger rates for panamax vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Baltic Index Snaps 6-session Losing Streak

File Image: Credit BSM

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities snapped a six-session losing streak and rose on Friday due to stronger rates for smaller vessels, even as capesize demand fell.   The overall index, which factors in rates for capesize


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 Snaps Five-Session Winning Streak

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The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Thursday after five straight sessions of gains as capesize rates dropped. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Baltic Index Hits Two-year High

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The Baltic Exchange's main sea freight index, which tracks rates for dry-bulk carriers, hit a more than two-year high on Wednesday as rates for panamax vessels rose. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 5 points at 1






 
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