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Wednesday, 03 November 10
PANAMAX SIZE DRY-BULK CARRIER MARKET IS STRONG - GERSON LEHRMAN
 Panamax class vessels have been part of the fluctuation of the broader current dry bulk market. They have experienced occasional steep movements, due to factors including ones associated with the global economy. While some of the factors have caused a damper on demand, time charter average rates for Panamax ships overall have risen in the last 18 months, without drastic fluctuations compared to Capesize rates.
There was the impact caused by India's ban on export from some ports. Although a small volume affected, it appeared to have had a physiological effect. Recently, there were reports of declining port congestions for Panamax cargoes. Although a sign of strength in demand, it lets rates lose their momentum. Coupling fixtures, stockpiles and reported export volumes on grain, coal and iron ore shows a sign of reliability, consistency and strength of the class.
Rates continue to hover around 16-18K for translantic, 27-29K for Cont/FE, and 9-11K for FE/Cont and 16-21 for FE-RV. While their highs for the year was 43.5K, 49K, 24K and 34K respectively. The average Baltic Exchange T/C rate for the year to date is 26,488 compared to 2009 at 19,295. Capesize year to date is 33,595 compared to its 2009 at 42,656.
Panamax bulk carriers remain the ships of choice, having the right combination of characteristics for transporting large quantities of raw commodities. As the leading coal and grain transporter, the ships have the flexibility in length, breadth and depth to call at most ports. Even as a large pool of Supramax evade the territory of the Panamax, with their gear advantage, the benefits of the Panamax in scale is attractive. There is so far no sign of over capacity of the class. Wall Street listed operators of Panamax dry-bulkers: DryShips, Diana Shipping, Excel Maritime, Baltic Trading, Genco Shipping, Star Bulk Carriers, Seanergy Maritime , Navios, Navios Maritime Partners, Paragon Shipping are poised to benefit from these vessels.
About 1650 Panamaxs’ are currently in the marketplace. The average fleet age is 13 years. Through 2014, only a handful of new builds are set to be delivered.
Excel Maritime, a major owner of the class has had good revenue from the fleet. Standing at about 75% of their fleets, Diana and DryShips have also benefited. The ships make up 77% of Navios fleet, while 66% of Paragons’.
As winter approaches, demand for coal is expected to favor Panamax ships.
Source: Gerson Lehrman Group / Hellenic Shipping
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Monday, 27 December 10
HUNT FOR OVERSEAS COAL ASSETS TO INTENSIFY - FINANCIAL EXPRESS
Financial Express reported that, With the Indian economy back on the track after the slowdown, merger and acquisition (M&A) activities in the re ...
Monday, 27 December 10
RIO TINTO EYES AUSTRALIAN COAL MINER - RTE NEWS
Global resources giant Rio Tinto has made a $3.9 billion bid for Australian coal miner Riversdale.
RTE News reported that, Global resources giant ...
Sunday, 26 December 10
ANGLO SELLS AUSTRALIAN COAL ASSETS - BARCELONA NEWS
Barcelona News reported that, Anglo American has sold off undeveloped Australia coal assets for $577 million.
The global resources giant ha ...
Saturday, 25 December 10
FREIGHT MARKET - LOWEST FIXTURES REPORTED SINCE MID 2009 - CAPT. REDDY
COALspot.com - We wish you a Merry Christmas and a Happy New Year 2011.
The holiday season seems to have severely affected the fr ...
Friday, 24 December 10
CIL SHORTLISTS 21 FIRMS TO IMPORT 250 MT COAL - THE HINDU
The Hindu reported that, Coal India plans to import about 250 million tonnes (mt) over the next 10 years to meet the country's growing requirement. ...
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