Navios Maritime Partners fixes panamax on period charter as markets gain

Navios Maritime Partners fixes panamax on period charter as markets gain

Brokers report that Navios Maritime Partners has fixed its panamax bulk carrier Navios Hyperion (75,707 dwt, built 2004) to EdF on a five- to seven-month period charter.

The vessel was fixed at a rate of $5,800 per day, delivering in Masinloc in the Phillippines between April 30 and May 5.

Greece’s Magna Marine is also today reported to have fixed a panamax to an unnamed charterer for four to eight months at a daily rate of $5,750. The vessel will deliver promptly in Shanghai.

Spot rates have now eclipsed short-term period rates in the panamax market. Today, the Baltic Panamax Index’s (BPI) weighted timecharter average (TCA) rate was assessed at $5,893 per day, an $97 increase on Friday’s level. Rates on routes heading from Skaw/Gibraltar to Taiwan/Japan saw the biggest daily increase in rates, along with those for round-trips across the Atlantic.

The Baltic indices for all vessel tonnages saw further increases today, with capesizes seeing the biggest boost. This helped the Baltic Dry Index advance by 24 points from Friday’s level to be assessed at 659 points today.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

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