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Wednesday, November 22, 2017

Baltic Panamax News

Pacific Panamax Market Gets Ugly

The Pacific panamax sector was set to weaken further after the Baltic Panamax Index fell under 1,000 due to a lack of orders, brokers said on Thursday. "There are no orders. The Baltic Panamax Index is now under 1,000 and the Pacific panamax market looks ugly," one said. The Baltic Panamax Index was at 987, down 33 points on Thursday, and both the trans-Pacific round voyage and backhaul timecharters saw $400 cuts from the index. Brokers said Pacific round voyage charters were being reported around $5,000, with the Atlantic equivalent seen just under $7,000 daily. In the Atlantic, brokers said fresh orders from South America, among others, were giving some support to the market.

Freight Rates Dip For First Time This Month

The Baltic indices indicated perhaps some changing conditions in the dry cargo market, with the Baltic Capesize Index falling for the first time this month on evidence of weaker conditions in the Far east and South Africa. The panamax index, however, took up the forward running on the basis of firmer rates conceded by charterers in the north Atlantic and the Pacific, they added. The Baltic Freight Index (BFI) rose nine points to 1,406, the Baltic Panamax Index gained 15 points to 1,350, and the Baltic Handy Index was up three points to 962, but the Baltic Capesize Index slipped two points to 1,899.

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, while the Baltic Handysize Index fell three points to 1,150.

Capesize Rates Firm

Capesize rates firmed again worldwide but brokers said charterers were increasingly conducting business under the counter. Panamax rates were also firmer east of Suez with both Chinese and Japanese charterers active in the Indian Ocean and the Pacific, while Atlantic handysize conditions remained in the doldrums, they added. The Baltic Dry Index (BDI) rose 10 points to 1,491, the Baltic panamax Index gained one point to 1,419, The Baltic Capesize Index jumped up 27 points to 2,055 and the Baltic Handy Index firmed three points to 1,008.

Dry Bulk Markets Lower

The Baltic Dry Index (BDI) shed seven points to 1,701, the Baltic Panamax Index (BPI) eased four points points to 1,520, the Baltic Handy Index (BHI) dropped eight points to 1,090, the Baltic Handymax Index fell 42 points to 9,631 and the Baltic Capesize Index (BCI) fell eight pionts to 2,504.

Baltic Exchange Launches New Dry Bulk Index

The Baltic Exchange will launch a new dry bulk cargo composite index on Monday, November 1. The BDI is a composite of the existing Baltic Handy Index, Baltic Panamax Index (BPI) and the Baltic Capesize Index. It will provide a valuable general indicator for those with mixed fleets and will continue the function of the Baltic Freight Index (BFI), due to be replaced by the BPI on November 1. The BFI has been the price settlement mechanism for BIFFEX, the freight futures contract traded at the London International Financial Futures and Options Exchange.

BDI Up 9

The Baltic Dry Index (BDI) rose nine points to 1,660, the Baltic Panamax Index gained four points to 1,557, the Baltic Handy Index firmed six points to 1,157, and the Baltic Capesize Index jumped up 17 points to 2,275.

Dry Cargo Rates Continue Rise In Quiet Market

Dry cargo rates continued to rise on Tuesday, but the market was quiet following Monday's Labor Day holiday in the U.S., brokers said. Cargill chartered the Ken Pan built in 1984 to ship 31,000 tons of maize from Durban to Japan 10/20 September at $22.75. The Baltic Dry Index (BDI) rose five points to 1,671, the Baltic Panamax Index four points to 1,616, the Baltic Handy Index six points to 1,169 and the Baltic Capesize Index by seven points to 2,239.

Dry Bulk Index Up Slightly

The Baltic Dry Index (BDI) rose one point to 1,429, the Baltic Panamax Index (BPI) gained three points to 1,560 and the Baltic Handymax Index (BHI) firmed 35 points to 9,220, while the Baltic Capesize Index (BCI) was down four points to 1,702.

Baltic Dry Indices Down

The Baltic Dry Index (BDI) fell six points to 1,496, the Baltic Panamax Index (BPI) lost 12 points to 1,626, the Baltic Handymax Index (BHI) firmed 14 points to 9,649 and the Baltic Capesize Index (BCI) was down seven points to 1,788.

Bulk Indices Sink

The Baltic Dry Index (BDI) fell 18 points to 1,468, the Baltic Panamax Index (BPI) lost 29 points to 1,578, the Baltic Handymax Index (BHI) eased 57 points to 9,573 and the Baltic Capesize Index (BCI) was down 18 points to 1,761.

Dry Bulk Index Continues Decline

The Baltic Dry Index (BDI) fell 16 points to 1,452, the Baltic Panamax Index (BPI) lost 25 points to 1,553, the Baltic Handymax Index (BHI) eased 46 points to 9,527 and the Baltic Capesize Index (BCI) was down 17 points to 1,744. - (Reuters)

BDI Sheds 7

The Baltic Dry Index (BDI) dropped seven points to 1,559, the Baltic Panamax Index (BPI) gained two points to 1,641, the Baltic Handymax Index (BHI) fell 26 points to 8,998 and the Baltic Capesize Index (BCI) was down 20 points to 2,035.

BDI Sheds 7

The Baltic Dry Index (BDI) dipped seven points to 1,552, the Baltic Panamax Index (BPI) gained two points to 1,643, the Baltic Handymax Index (BHI) fell 44 points to 8,954 and the Baltic Capesize Index (BCI) was down 17 points to 2,018.

BDI Down Slightly

The Baltic Dry Index (BDI) shed two points to 1,594, the Baltic Panamax Index (BPI) gained five points to 1,573, the Baltic Handymax Index fell 32 points to 9,311 and the Baltic Capesize Index (BCI) was down nine points to 2,173.

Baltic Dry Index

The Baltic Dry Index (BDI), the successor to the Baltic Freight Index, was down 12 points on Thursday to 1,301 points. The Baltic Panamax Index was down 2 to 1,251, the Capesize down 30 to 1,709 and the Handy down 2 to 952 points.

Baltic Panamax Index Down

The Baltic Panamax Index was down 3 to 1,253 points last Wednesday, the Capesize down 16 to 1,739, the Handy Index down 4 at 954 and the Dry Index down 7 to 1,313 points. Brokers reported generally sluggish conditions in the freight market. Cargill booked 55,000 heavy grain USGulf/Holland with Ateni at $12 and were also understoood to have fixed Bariloche for 54,000 heavy grain Baie Comeau to Japan for Nov 12/25 at $21.50 no combo although some sources put the rate at $22.25. Rates were weaker again from South America where Toepfer fixed Lucija for 30,000 grains 53 ft Tubarao/Lisbpon-Hamburg range Nov 10/20 at a lump sum equivalent of only $15.50.

Capesize Rates Ease

Easier conditions were seen for Capesizes in the Atlantic sector of the dry cargo freight market, brokers said last week. Some brokers believed that the gap between Capesize and Panamax rates could not be sustained and that some Capesize cargoes would be split into Panamax sizes. However, it was pointed out that Capesize contracts did not always permit this. Panamax rates were generally unchanged, while Handysize levels remained firm in the East and were said to be stronger from the east coast of South America. The Baltic Dry Index (BDI) was down two points at 1,684, the Baltic Panamax Index fell seven points to 1,513, the Baltic Capesize Index was unchanged at 2,369 and the Baltic Handy Index gained two to 1,181.

Baltic Indices Down; Freefall To Continue

The Baltic indices all posted losses yesterday, especially the Panamax-driven ones, and word in the market is that the fall will continue. The recent turnaround on the Panamax indices was largely attributed to a drying up on Japanese interest in the Pacific region, coupled with an increase on tonnage availability in the Atlantic. Yesterday, the Baltic Freight Index (BFI) fell 15 points to 999; the Baltic Panamax Index slumped 23 points to 1,090; the Baltic Handy Index slipped one point to 843; and the Baltic Capesize Index shed three points to 866.

Stiff Rate Increases Seen For Atlantic Capers

Some stiff rate increases for Atlantic capers were seen for business to China and for trans-Atlantic coal, brokers said last Wednesday. Panamax rates were still drifting from the U.S. Gulf due to lack of orders, but levels in the Far East for these vessels remained firmer, they added. Conditions for handy size vessels and to a lesser extent smaller geared tonnage, were generally better in the Atlantic. The Baltic Freight Index (BFI) rose six points to 1,223, the Baltic Panamax Index gained five points to 1,186, the Baltic Handy Index firmed seven points to 930, and the Baltic Capesize Index was also up seven points to 1,412. In the grain sector…

BFI Increase Reflects Rise In Panamax Rates

Panamax vessels continued to attract higher rates last week, which was reflected in gains by the Baltic Freight Index (BFI) and the Baltic Panamax Index. The BFI jumped 19 points to 1,143, while the Baltic Panamax Index rose 25 points to 1,105. Quieter conditions for caper and handies were responsible for a modest two point rise in the Baltic Capesize Index to 1,377 and a four point increase on the Baltic Handy Index to 871, brokers said. Fresh grain business was confined to just one fixture from Cargill, who took the 1980 built Elikon to ship 25,000 tons wheat Hamburg/Algeria September 20/25 at $15.25. Panamaxes involved in period business were said to be making consistent gains…

Freight Market Quiet

Few significant developments emerged on Wednesday as the dry bulk market appeared to be stabilizing in most areas, reflected in the latest moves of the Baltic indices, brokers said. The Baltic Freight Index (BFI) rose 12 points to 1,397, the Baltic Panamax Index gained 18 points to 1,335, the Baltic Handy Index firmed three points to 959 and the Baltic Capesize Index was up four points to 1,901. The Capesize sector was quiet although rates were generally unchanged, while Panamax rates in the Far East sector looked to be very steady, especially the more modern types. There were some signs of easier conditions for handy-sizes in the Far East and possibly also in the U.S. Gulf and South America but differences in freight rates in the Atlantic so far appeared to be marginal.

Caper Boom Not Over Yet

There were no signs that the recent caper boom was over yet despite last Tuesday's relatively modest gain on the Baltic Capesize Index of 31 points to 1,753, brokers said. The slightly softer condition for early Panamaxes in the U.S. Gulf persisted but for end October and November positions there appeared to be a slight upward trend in rates, they added. Owners were said to be reluctant to ballast to the U.S. Gulf or the east coast of South America due to firm bunker prices. Panamax rates from the Continent and in the East were reported to be at the very least steady, while handy size rates were also generally steady but few details emerged about fixtures from the Lakes, U.S. Gulf or the east coast of South America.

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