Drop in coal cargoes, tonnage glut keeps Panamax freight rates sideways

摘要

Long tonnage availability and a limitednumber of cargoes saw the Asia Pacific Panamax coal freightmarket under duress Friday as rates moved sideways onaccount of owners offering discounts to keep their vesselsemployed, according to shipping sources.“The market is pretty dire out here. Most, if not all, fixingis concluded on APS [Arrival Pilot Station] basis now. Ownerssticking to index relative DOP [Dropping Outward PilotStation] rates not getting met with much interest,” aPanamax shipbroker said.