Two more period charters of panamax bulk carriers have been reported as strengthening markets for almost all bulker types helped the Baltic Dry Index climb seven points to reach 567 today.
The Baltic Panamax Index’s (BPI) weighted timecharter average (TCA) rate was today assessed at $5,407 per day, an $99 increase on Tuesday’s level.
The spot rate has been bolstered by consistently busy chartering activity, particularly for cargoes out of the east coast of South America, but still lags a little ways behind six-month period rates for kamsarmaxes and new panamaxes.
London-based shipbroker Alibra Shipping today estimates six-month period rates of $6,850 per day for vessels in the Atlantic basin and $6,600 per day for those in the Pacific, where market conditions are a little weaker.
Safe Bulkers is today reported to have fixed its panamax Kypros Sky (77,079 dwt, built 2015) to Glencore on a four- to seven-month period charter at $6,150 per day, delivering in Kunsan, South Korea, according to Baltic Exchange data. The ship has been trading in the spot market since its delivery last year.
Kypros Sky is the second panamax Glencore has booked on period charter during the past month and the fourth since 2016 began, brokers’ records say.
Taiwan’s Chialease Finance is said to have fixed YM Rightness (77,684 dwt, built 2004) Oldendroff for four to eight months at a daily rate of $5,200, delivering in Ulsan, South Korea..
The German carrier has fixed seven panamaxes on period charter since 2016 began. Of these ships, three have been kamsarmaxes of less than four years old, for which the German carrier has paid firmer rates than reported today.
