Subscribe to RSS feedPanamax surge forecast to send rates crashing to 2002 levels
by
Michelle Wiese Bockmann, London
—
last modified
Apr 23, 2010 02:52 PM
PANAMAX freight rates are forecast to be “similar” to 2002 average rates of US$13,000 per day when the near-record numbers of new ships being delivered in 2010 and 2011 outstrip dry bulk demand for this ship type.
Major German ship financier DVB Group said there would be a surplus of up to 261 panamax bulk carriers by the end of the year, which, combined with flat utilisation, would see rates return to levels of nearly a decade...
This full article is available to Lloyd's List DCN subscribers only.
If you are already a subscriber, please sign in below.
If you're not a subscriber and would like to experience the full benefits of Lloyd's List DCN with a 14 day trial, please click here.
Alternatively, click here to subscribe.
| Tweet |
