Week closes with a trio of panamaxes fixed on period

Week closes with a trio of panamaxes fixed on period

Fixtures of bulk carriers in the period market have picked up again after Posidonia, with three new deals reported today by the Baltic Exchange, all in the Pacific basin.

Navios Europe II’s vessel Rainbow N (79,642 dwt, built 2011) was reported fixed to Noble Hong Kong on a rare 12-month timecharter. The daily rate was fixed at $5,500, with the vessel set to deliver promptly in Tianjin.

Oldendorff has reportedly booked Shandong Shipping Corp’s panamax Shandong Hai Yao (75,750 dwt, built 2014) for five to eight months at $4,900 per day, delivering in Shanghai between June 21-23.

The newly formed COSCOCS Bulk Shipping has fixed its Shao Shan 5 (75,700 dwt, built 2012) to Phaethon on a three- to five-month period charter for $5,000 daily. The panamax will deliver in Haldia, India between June 22-25.

Panamaxes trading in the Atlantic basin can command a hefty premium over their counterparts in the Pacific, particularly on short-term contracts. London-based broker Alibra Shipping today estimates daily rates of $6,500 in the Atlantic for six-month period charters, which is $1,200 more than in the Eastern basin.

Earlier this week, Bunge reportedly booked Bulk Seas’ Lucky Star (76,662 dwt, built 2002) for four to eight months at $5,000 daily, delivering in Kunsan, South Korea between now and Saturday. The fixture was reported 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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