Panamax ships are competitive

摘要

The unprecedented demand for coal and iron ore has put such pressure on the shipping market that charter rates for Capesize ships have risen to previously unimaginable levels of between US$180,000 and USS200,000/day. According to Barry Rogliano Salles (BRS), France's leading shipping broker, this has led to renewed interest in Panamax bulkers as they cost "only" US$83,000/ day, so two Panamax ships are less expensive to charter than a Capesize ship. Taking into account the pressure on ports, which has led to long vessel waiting times, and the long order books at the world's shipyards, BRS does not expect rates to soften before 2010 at the earliest.