Panamax Ships at Anchor – Hire Rates Rising

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.