Panamax coal freight rates end week lower on low fixture activity

摘要

Singapore - Panamax coal freight rates on established routes from South Africa's Richards Bay and Indonesia to India ended the week lower on Friday, as fixture activity in the Capesize market eased up ahead of holidays in China. Despite the positive sentiment seen earlier in the week for Capesizes and some smaller vessels, Panamax freight rates remained soft due to an oversupply of vessels and lack of car- goes, sources said. "The Baltic Panamax Index continued to drop to its low- est level since December 2008 and difficulties continue for Panamax vessels in the Atlantic, with little sign of positive signals in the near future," broker Braemar Seascope said in its weekly note on Thursday.