PANAMAX CHARTER RATES TO RECOVER IN MAY

摘要

In April 2018, Panamax charter ratesrnmoved in an opposite direction tornCapesizes and remained under pressurernthroughout the month. The BPI (BalticrnPanamax Index) declined by 15% on arnmonthly basis. The highest decline in ratesrnwas on the Continent/ECSA and Far East-rnAustralia round voyages, where they fell byrnmore than 20% than in March 2018. Wernbelieve rates on these routes might haverndropped steeply because of less interestrnfor coal among European traders andrnrestriction on coal imports in China. Evenrnthough coal demand in Europe will remainrnsubdued, it should revive in Asia becausernof an increase in demand for electricityrnin summer. Hence, we are confident thatrnPanamax charter rates will recover in May.